Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 240 - Arrangements treated as a sale and loan  

Subdivision 240-C - Amounts to be included in notional seller ' s assessable income  

Operative provisions

SECTION 240-40   Arrangement payments not to be included in notional seller's assessable income  

240-40(1)    
The * arrangement payments that the * notional seller receives, or is entitled to receive, under the * arrangement:

(a) are not to be included in the * notional seller's assessable income of any income year; but

(b) are not taken to be * exempt income of the notional seller.

240-40(2)    
However, those * arrangement payments are taken into account in calculating * notional interest that is included in the * notional seller's assessable income under section 240-35 .

240-40(3)    
A loss or outgoing incurred by the * notional seller in deriving any such * arrangement payments is not taken to be a loss or outgoing incurred by the notional seller in relation to gaining or producing * exempt income.