Tax Laws Amendment (2010 Measures No. 4) Act 2010 (136 of 2010)
Schedule 3 Taxation of financial arrangements
Part 1 Taxation of financial arrangements amendments
Income Tax Assessment Act 1997
54 Section 230-305 (after table item 2)
Insert:
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2A |
(a) you cease to have one or more (but not all) of the *hedged items; or (b) you cease to expect that one or more (but not all) of the hedged items will come into existence; or (c) you cease to expect that you will have one or more (but not all) of the hedged items |
(a) to the extent to which the gain or loss is reasonably attributable to those one or more hedged items - to the income year in which the event occurs; and (b) to the extent to which the gain or loss is reasonably attributable to the remaining hedged item or items - over income years according to the basis determined under subsection 230-360(1). |