Which of the following statements isnotcorrect?

I.Financial arrangements held by individuals that are not qualifying securities are excluded from the TOFA regime.

II.Hire purchase transactions under Division 240 of the ITAA 1997 are treated as a notional sale and notional loan, with the notional buyer entitled to depreciation deductions.

III.An at-call loan may be treated as a debt interest provided the annual turnover of the company issuing the interest exceeds $20 million.