Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-10 - FINANCIAL TRANSACTIONS  

Division 230 - Taxation of financial arrangements  

Subdivision 230-E - Hedging financial arrangements method  

SECTION 230-330   Hedging financial arrangements to which election does not apply  

230-330(1)  
A *hedging financial arrangement election does not apply to a *financial arrangement if the arrangement is a financial arrangement under section 230-50 (equity interests etc).

230-330(2)  
Subsection (1) does not apply to a *hedging financial arrangement if:


(a) the hedging financial arrangement is a *foreign currency hedge; and


(b) you issue the hedging financial arrangement.

230-330(3)  
A *hedging financial arrangement election does not apply to a *financial arrangement if:


(a) you are:


(i) an individual; or

(ii) an entity (other than an individual) that satisfies subsection 230-455(2) , (3) or (4) for the income year in which you start to have the arrangement; and


(b) the arrangement is a *qualifying security; and


(c) you have not made an election under subsection 230-455(7) .

230-330(4)  
A *hedging financial arrangement election does not apply to a *financial arrangement if:


(a) the election is made by the *head company of a *consolidated group or *MEC group; and


(b) the election specifies that the election is not to apply to financial arrangements in relation to *life insurance business carried on by a member of the consolidated group or MEC group; and


(c) the arrangement is one that relates to the life insurance business carried on by a member of the consolidated group or MEC group.

230-330(5)  
A *hedging financial arrangement election does not to apply to a *financial arrangement if the arrangement is associated with a business of a kind specified in regulations made for the purposes of this subsection.


 

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