INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 250 - Assets put to tax preferred use  

Subdivision 250-E - Taxation of deemed loan  

The accruals method

SECTION 250-230   250-230   Application of accruals method  


The accruals method provided for in sections 250-235 to 250-255 applies to a gain or loss you make from the *financial arrangement if:


(a) the gain or loss is an overall gain or loss from the arrangement; and


(b) the gain or loss is sufficiently certain at the time when you start to have the arrangement.


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