Document ID: chunk:federal_register_of_legislation:C2025C00029:section:12:p30
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 12 (pt 30/43)
Character Range: 4020876–4023618

right or obligation arising from an interest in:
 (i) a *complying superannuation entity; or
 (ii) a *non‑complying superannuation fund or *non‑complying approved deposit fund; or
 (iii) an *RSA.

Interest in controlled foreign companies
 (12) A right or obligation that arises under a *direct participation interest of an *attributable taxpayer in a *controlled foreign company is the subject of an exception.

Proceeds from certain business sales
 (13) A right to receive, or an obligation to provide, *financial benefits arising from the sale of:
 (a) a business; or
 (b) shares in a company that operates a business; or
 (c) interests in a trust that operates a business;
is the subject of an exception if the amounts, or the values, of those benefits are only *contingent on aspects of the economic performance of the business after the sale.

Farm management deposits
 (15) A right to receive, or an obligation to provide, *financial benefits is the subject of an exception if:
 (a) the right or obligation is the right or obligation of an *owner of a *farm management deposit; and
 (b) the right or obligation relates to the deposit.

Rights and obligations to which section 121EK of the Income Tax Assessment Act 1936 applies
 (16) A right or obligation that arises because of a payment of an amount to which section 121EK of the Income Tax Assessment Act 1936 applies is the subject of an exception.

Forestry managed investment scheme interests
 (17) A right or obligation under a *forestry interest in a *forestry managed investment scheme in relation to which you can claim deductions under Division 394 is the subject of an exception.

Exploration benefits
 (17A) A right or obligation that arises because of the provision of an *exploration benefit under a *farm‑in farm‑out arrangement is the subject of an exception.

Regulations may provide for exceptions
 (18) A right or obligation of a kind specified in the regulations for the purposes of this subsection is the subject of an exception.

230‑465  Ceasing to have a financial arrangement in certain circumstances
 (1) This section applies if:
 (a) you cease to have a *financial arrangement (or part of a financial arrangement); and
 (b) you make a loss from ceasing to have the arrangement (or that part of the arrangement); and
 (c) if the arrangement is a marketable security (within the meaning of section 70B of the Income Tax Assessment Act 1936):
 (i) you did not acquire the arrangement in the ordinary course of trading on a securities market (within the meaning of that section); and
 (ii) at the time you acquired the arrangement, it was not open to you to acquire an identical financial arrangement in the ordinary course of trading on a securities market; and