Document ID: chunk:federal_register_of_legislation:C2013C00453:clause:1_1:p28
Version: federal_register_of_legislation:C2013C00453
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 28/52)
Character Range: 70775–73348

you determine to be the expected life of the portfolio, if:
 (a) the basis on which you determine the period accords with the spreading of the premium/discount gain or loss for the purposes of the profit or loss statement of the financial report mentioned in paragraph 230‑150(1)(a); and
 (b) the basis on which you determine the period is set and recorded before you start to have the *financial arrangement; and
 (c) the period can be justified objectively; and
 (d) the period is reasonable in the circumstances.

Spreading the premium/discount gain or loss
 (4) The method by which the premium/discount gain or loss is to be spread is the method that you determine, if:
 (a) the basis on which you determine the method accords with the spreading of the premium/discount gain or loss for the purposes of the profit or loss statement of the financial report mentioned in paragraph 230‑150(1)(a); and
 (b) the method is determined before you start to have the *financial arrangement; and
 (c) the method can be justified objectively; and
 (d) the method is reasonable in the circumstances.
 (5) To avoid doubt, subsections (3) and (4) apply despite sections 230‑130 and 230‑135.

230‑170  Allocating gain or loss to income years
 (1) You are taken, for the purposes of section 230‑15, to make, for an income year, a gain or loss equal to a part of a gain or loss if:
 (a) that part of the gain or loss is allocated to an interval under section 230‑135; and
 (b) that interval falls wholly within that income year.
 (2) If:
 (a) a part of a gain or loss is allocated to an interval under section 230‑135; and
 (b) that interval straddles 2 income years;
you are taken, for purposes of section 230‑15, to make a gain or loss equal to so much of that part of the gain or loss as is allocated between those income years on a reasonable basis.
 (3) If:
 (a) a *head company of a *consolidated group or *MEC group has a *financial arrangement; and
 (b) a subsidiary member of the group ceases to be a member of the group at a particular time (the leaving time); and
 (c) immediately after the leaving time, the head company no longer has the arrangement because the subsidiary member ceased to be a member of the group;
an income year of the group is taken, for the purposes of applying this section to the group and the arrangement, to end at the leaving time.

230‑175  Running balancing adjustments

Overestimate of financial benefit to be received
 (1) You are taken for the purposes of this Division to make a loss from a *financial arrangement if:
 (a) a provision of this