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).