Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 230 - Taxation of financial arrangements  

Subdivision 230-C - Fair value method  

SECTION 230-205   230-205   Objects of this Subdivision  


The objects of this Subdivision are:


(a) to allow you to align the tax treatment of gains and losses from *financial arrangements with the accounting treatment that applies where assets and liabilities are classified or designated as at fair value through profit or loss; and


(b) to facilitate efficient price-making; and


(c) to achieve the above objects without allowing you to obtain an inappropriate tax benefit.


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