Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 243 - Limited recourse debt  

Subdivision 243-D - Special provisions  

Operative provisions

SECTION 243-75   Application of Division where debt forgiveness rules also apply  

243-75(1)    


This section is to remove doubt about how this Division and Division 245 apply where both apply to the same debt.

243-75(2)    
Where both apply:


(a) this Division is to be applied first and is to be applied disregarding any operation of Division 245 ; and


(b) any amounts included in assessable income under this Division are taken into account under paragraph 245-85(1)(a) .



View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.