Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Disregard a gain or loss under this Division from a * financial arrangement to the extent that it is attributable to:
(a) a shifting of value that has consequences under Division 723; or
(b) a * direct value shift that has consequences under Division 725; or
(c) an * indirect value shift that has consequences under Division 727; or
(d) a shifting of value that has consequences analogous to those under Division 725 or 727 under a repealed provision of this Act or of the Income Tax Assessment Act 1936 .
(2) Determine whether a shifting of value has the consequences mentioned in paragraph (1)(a) on the assumption that a * realisation event in respect of all or part of the * financial arrangement happens in the income year for the gain or loss.