Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013 (85 of 2013)
Schedule 8 Taxation of financial arrangements
Part 4 Hedging financial arrangements method
Division 1 One in all in principle
Income Tax Assessment Act 1997
39 Section 230-325
Repeal the section, substitute:
230-325 Hedging financial arrangements to which election applies
A *hedging financial arrangement election applies to a *hedging financial arrangement:
(a) that you start to have in the income year in which you make the election or in a later income year; and
(b) that is not excluded from the application of the election by section 230-330.
Note: Subject to a determination by the Commissioner, the hedging financial arrangement election does not apply to a financial arrangement you start to have after you fail to comply with the requirements in sections 230-355 and 230-360 and paragraph 230-365(c) in relation to a hedging financial arrangement to which the election does apply: see section 230-385. See also subsection 230-305(1).