INCOME TAX ASSESSMENT ACT 1997 - SECT 230.325 Hedging financial arrangements to which election applies

INCOME TAX ASSESSMENT ACT 1997 - SECT 230.325

    A * hedging financial arrangement election applies to a * hedging financial arrangement:

  (a)   that you start to have in the income year in which you make the election or in a later income year; and

  (b)   that is not excluded from the application of the election by section   230 - 330.

Note:   Subject to a determination by the Commissioner, the hedging financial arrangement election does not apply to a financial arrangement you start to have after you fail to comply with the requirements in sections   230 - 355 and 230 - 360 and paragraph   230 - 365(c) in relation to a hedging financial arrangement to which the election does apply: see section   230 - 385. See also subsection   230 - 305(1).