Broken-period income must equal or exceed the amount attributable when a debt instrument is transferred during the financial year. Income arising on transfer of a debt instrument during a financial year shall not be less than the broken-period income attributable to that instrument, ... Summary
Broken-period income must equal or exceed the amount attributable when a debt instrument is transferred during the financial year.
Income arising on transfer of a debt instrument during a financial year shall not be less than the broken-period income attributable to that instrument, establishing a minimum recognition rule that treats accrued interest for the period as taxable income on transfer.
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