INCOME TAX ASSESSMENT ACT 1936 - SECT 159GQ Tax treatment of holder of qualifying security
INCOME TAX ASSESSMENT ACT 1936 - SECT 159GQ
Tax treatment of holder of qualifying securityAccrual amounts to be worked out
(1) If a taxpayer holds a qualifying security for all or part of a year of income, the effect on the taxpayer's taxable income is determined by working out the accrual amount (see section 159GQB) for each accrual period (see section 159GQA) in the year of income and then summing the accrual amounts.
(2) If the sum is a positive amount, the amount is included in the assessable income of the taxpayer of the year of income.
(3) If the sum is a negative amount, a deduction of the amount
is allowable in the assessment of the taxpayer of the year of income.