Income Tax Assessment Act 1997



Division 250 - Assets put to tax preferred use  

Subdivision 250-E - Taxation of deemed loan  

The accruals method

SECTION 250-235   250-235   Overview of the accruals method  

If the accruals method applies to a gain or loss you make from the *financial arrangement:

(a) you use section 250-240 to work out the period over which the gain or loss is to be spread; and

(b) you use section 250-245 to work out how to allocate the gain or loss to particular intervals within the period over which the gain or loss is to be spread; and

(c) if an interval to which part of the gain or loss is allocated straddles 2 income years, you use section 250-250 to work out how to allocate that part of the gain or loss allocated between those 2 income years.


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