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 2 Hedging net investments in foreign operations
Income Tax Assessment Act 1997
48 Subsection 230-310(5)
Repeal the subsection, substitute:
(5) Subsection (6) applies if:
(a) a *hedged item is your net investment in a foreign operation (within the meaning of the *accounting principles); and
(b) the foreign operation is carried on through:
(i) a company in which you hold *shares; or
(ii) a company that is a subsidiary of yours (within the meaning of the Corporations Act 2001).
(6) The table in subsection (4) has effect as if:
(a) to the extent that the *hedging financial arrangement hedges a risk or risks in relation to *shares you hold in the company - the reference in that table to the *hedged item were a reference to your interest in those shares; and
(b) to the extent that the hedging financial arrangement hedges a risk or risks in relation to another interest you have in the company - the reference in that table to the hedged item were a reference to that interest.