Section EW 15C — Income Tax Act 2007: Preparing and reporting methods

EW 15C Preparing and reporting methods Who this section applies to (1) A person who uses IFRSs to prepare financial statements and to report for financial arrangements must use 1 of the following methods for the financial arrangement: (a) the IFRS financial reporting method in section EW 15D : (b) a determination alternative in section EW 15E : (c) the expected value method in section EW 15F : (d) the modified fair value method in section EW 15G . Exclusions (2) Subsection (1) does not apply in the circumstances set out in sections EW 15H and EW 15I . Defined in this Act: fair value method , financial arrangement , financial statements , IFRS Compare: 2004 No 35 s EW 15B(6) Section EW 15C: inserted, on 1 April 2008, by section 366 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).