In general, credits and debits arising on derivative contracts are brought into account in the same way as loan relationships credits and debits (CFM51000+). There are, however, certain exceptions, set out in s640(2) and listed below:
•contracts relating to land or certain tangible moveable property (S643) (CFM55080);
•equity options embedded into convertible or exchangeable securities (creditor relationships only) (S645) (CFM55200);
Want to read more?
This content requires a Croner-i Tax and Accounting subscription.