Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013 (85 of 2013)

Schedule 8   Taxation of financial arrangements

Part 2   Accruals/realisation methods

Division 7   Running balancing adjustments

Income Tax Assessment Act 1997
31   After subsection 230-175(1)


(1A) Subsection (1) does not apply to the extent that the difference results from:

(a) an impairment (within the meaning of the *accounting principles) of:

(i) the *financial arrangement; or

(ii) a financial asset or financial liability that forms part of the arrangement; or

(b) you writing off, as a bad debt, a right to a *financial benefit (or a part of a financial benefit).