Section 372A — Income Tax Act 2007: Meaning of “loan” and “interest”

Meaning of “loan” and “interest” 372A 1 In this Part and regulations made under Chapter 2 of this Part—

a references to a “loan” include references to alternative finance arrangements, and b references to “interest” include references to alternative finance return.

2 In subsection (1)— “ alternative finance arrangements ” means arrangements to which any of the following applies— section 564C (purchase and resale arrangements), section 564E (deposit arrangements), and section 564F (profit share agency arrangements), and “ alternative finance return ” has the meaning given by section 564I and 564L(1) and (2).

3 Subsection (1) needs to be read with—

a section 372B, in the case of arrangements to which section 564C applies, b section 372C, in the case of arrangements to which section 564E applies, and c section 372D, in the case of arrangements to which section 564F applies.