INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 230 - Taxation of financial arrangements  

Subdivision 230-I - Other provisions  

SECTION 230-520   Disregard gains or losses covered by value shifting regime  

230-520(1)  
Disregard a gain or loss under this Division from a *financial arrangement to the extent that it is attributable to:


(a) a shifting of value that has consequences under Division 723; or


(b) a *direct value shift that has consequences under Division 725; or


(c) an *indirect value shift that has consequences under Division 727; or


(d) a shifting of value that has consequences analogous to those under Division 725 or 727 under a repealed provision of this Act or of the Income Tax Assessment Act 1936.

230-520(2)  


Determine whether a shifting of value has the consequences mentioned in paragraph (1)(a) on the assumption that a *realisation event in respect of all or part of the *financial arrangement happens in the income year for the gain or loss.

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