Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) You are taken, for the purposes of section 230 - 15, to make, for an income year, a gain or loss equal to a part of a gain or loss if:
(a) that part of the gain or loss is allocated to an interval under section 230 - 135; and
(b) that interval falls wholly within that income year.
(2) If:
(a) a part of a gain or loss is allocated to an interval under section 230 - 135; and
(b) that interval straddles 2 income years;
you are taken, for purposes of section 230 - 15, to make a gain or loss equal to so much of that part of the gain or loss as is allocated between those income years on a reasonable basis.
(2A) Subsections (1) and (2) do not apply to a part of a gain or loss if:
(a) subsection 230 - 100(3A) or 230 - 130(4A) applies to the gain or loss; and
(b) that part of the gain or loss is allocated to an interval under section 230 - 135; and
(c) that interval ends before or during the income year during which the gain or loss becomes sufficiently certain (as mentioned in paragraph 230 - 100(3A)(b) or 230 - 130(4A)(f), whichever is applicable).
Instead, you are taken, for the purposes of section 230 - 15, to make, for that income year, a gain or loss equal to that part of that gain or loss.
(3) If:
(a) a * head company of a * consolidated group or * MEC group has a * financial arrangement; and
(b) a subsidiary member of the group ceases to be a member of the group at a particular time (the leaving time ); and
(c) immediately after the leaving time, the head company no longer has the arrangement because the subsidiary member ceased to be a member of the group;
an income year of the group is taken, for the purposes of applying this section to the group and the arrangement, to end at the leaving time.