Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 247.25

Number of put options

  (1)   If a * capital protected borrowing specifies more than one occasion on which the * capital protection can be invoked, this Act applies as if there were a separate put option for each of those occasions. So much of the amount to which subsection   247 - 20(6) applies as is reasonably attributable to each option is taken to have been incurred for that option.

  (2)   However, if a borrower may invoke the * capital protection under a * capital protected borrowing at any time up to the end of a period, or only at the end of a period, for which there is capital protection, this Act applies as if there were a single put option for that period.


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