217. Calculating accrued income profits and losses.

The general rule for determining whether a person is treated as making accrued income profits1 or accrued income losses where securities2 are transferred3 by or to the person is as follows4. A separate calculation is to be made for each kind of security that is transferred by or to the person and for each interest period5 of each such kind of security6. Each such calculation is to find:


    (1)     the total amount ('A') of the payments treated as made to the person in the interest period in question in respect of transfers of securities of the particular kind; and