INCOME TAX ASSESSMENT ACT 1997 - SECT 230.125 Overview of the accruals method

INCOME TAX ASSESSMENT ACT 1997 - SECT 230.125

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

  (a)   you use section   230 - 130 to work out the period over which the gain or loss is to be spread; and

  (b)   you use section   230 - 135 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   230 - 170 to work out how to allocate that part of the gain or loss allocated between those 2 income years.