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
42 After subsection 230-335(3)
Insert:
(3A) Disregard paragraph (3)(d) if subsection (4) is satisfied and:
(a) a *hedging financial arrangement election applies to the *financial arrangement (because you previously satisfied the additional recording requirements mentioned in that paragraph at a time when the election applied); or
(b) all of the following subparagraphs apply:
(i) a hedging financial arrangement election would apply to the financial arrangement if you satisfied the additional recording requirements mentioned in paragraph (3)(d);
(ii) the election and subsection (3) apply to another financial arrangement;
(iii) subsection (4) is or was satisfied in relation to that other arrangement at a time when the election applied to that other arrangement.
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