1107
In forceAmount of disposition
Volume 3Chapter 2AA, Part 2AA.1 to Chapter 3, Part 3.12, sections 1061ZVAA-1157
Chapter 3General provisions relating to payability and rates
Part 3.10General provisions relating to the ordinary income test
Division 3Disposal of ordinary income
1107 Amount of disposition
If a person disposes of ordinary income, the amount of the disposition is the amount that, in the Secretary’s opinion, is:
(a)
if the person receives no consideration for the destruction, disposal or diminution—the annual rate of the diminution of the income because of the destruction, disposal or diminution; or
(b)
if the person receives consideration for the destruction, disposal or diminution—the annual rate of the diminution of the income because of the destruction, disposal or diminution less the part (if any) of the consideration that the Secretary considers to be fair and reasonable in all the circumstances of the case.
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