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Foreign exchange (forex)
 
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Separate rules apply to financial arrangements which are subject to Division 230 of the ITAA1997. Generally, these are financial arrangements held by large taxpayers. For more information on these rules refer to the homepage of Taxation of Financial Arrangements.
Foreign exchange (forex): acquisition of a CGT asset
This fact sheet explains the issue when an investor acquires a capital gains tax (CGT) asset. NAT 10557
Foreign exchange (forex): acquisition of a CGT asset (election out of 12 month rule)
An example of what happens when an investor acquires a CGT asset and elects out of the 12 month rule. NAT 10625
Foreign exchange (forex): acquisition of an overseas rental property
This fact sheet deals with the translation of the acquisition cost of rental property which is denominated in a foreign currency. Information provided includes whether a forex realisation event will occur, and what the forex gain or loss will be.
Foreign exchange (forex): applying the measures to a substituted accounting period
This document offers information and an example scenario on the application of the foreign exchange (forex) measures to taxpayers operating on a substituted accounting period. NAT 11535
Foreign exchange (forex): disposal of CGT asset denominated in foreign currency - incidental costs (election out of 12 month rule)
Information about the disposal of CGT asset denominated in foreign currency. NAT 10627
Foreign exchange (forex): disposal price of CGT asset denominated in foreign currency
An example of what happens when the disposal price of a capital gains tax (CGT) asset is denominated in a foreign currency. NAT 10628
Foreign exchange (forex): disposal price of CGT asset denominated in foreign currency (election out of 12 month rule)
An example of what happens when the disposal price of a capital gains tax (CGT asset) is denominated in foreign currency and you elect not to have the 12 month rule apply. NAT 10654
Foreign exchange (forex): election out of the 12 month rule
This election allows you to opt out of the special operation of the 12 month rule on short-term disposals or acquisitions of certain assets.
Foreign exchange (forex): foreign currency denominated bank accounts
This document provides answers to some frequently asked questions about the general application of foreign currency tax laws to foreign currency denominated bank accounts.
Foreign exchange (forex): foreign currency denominated shares
This document demonstrates the application of the foreign exchange gain and loss measures to the acquisition and/or disposal of ordinary shares denominated in a foreign currency.
Foreign exchange (forex): functional currency - accounting and reporting
This document provides an overview of the functional currency rules and how they affect tax accounting and reporting. It includes information on non-functional currency amounts received or paid, and activity statement reporting during the year. NAT 10472
Foreign exchange (forex): functional currency - overview and eligibility
This document provides an overview of the functional currency rules. It includes information on how the functional currency rules work, eligibility requirements, and when a choice must be made. NAT 10471
Foreign exchange (forex): general information on average rates
This document provides general information on the use of average rates in relation to foreign exchange (forex) measures. It includes details on when the average rates can be used, and where the average rates can be obtained. NAT 13434
Foreign exchange (forex): hedging transactions
This document provides information on how entities should calculate their foreign currency gain or loss where they have entered into foreign currency hedging transactions.
Foreign exchange (forex): overview
This document provides an overview of the foreign exchange (forex) measures including information on the start date of the measures, which taxpayers the measures apply to, and the main changes between the new and old forex laws.
Foreign exchange (forex): questions and answers
This document contains answers to commonly asked foreign exchange (forex) questions including information on when the measures started, and what elections are available under the measures. NAT 8996
Foreign exchange (forex): realisation event 1
The first of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to disposal between entities. NAT 9338
Foreign exchange (forex): realisation event 2
The second of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to the cessation of rights to receive. NAT 9341
Foreign exchange (forex): realisation event 3
The third of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to cessation of obligations to receive. NAT 9340
Foreign exchange (forex): realisation event 4
The fourth of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to the cessation of obligations to pay. NAT 9342
Foreign exchange (forex): realisation event 5
The fifth of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to cessation of rights to pay. NAT 9343
Foreign exchange (forex): realisation event ordering rules
This document provides information on the ordering rules which may apply where transactions denominated in a foreign currency give rise to multiple foreign exchange realisation events. Worked examples are provided to illustrate key points.
Foreign exchange (forex): the $250,000 balance election
This election allows gains and losses arising in respect of transactions on certain low balance bank and credit card foreign currency accounts to be disregarded.
Foreign exchange (forex): the 12 month rule
Allows short-term foreign exchange gains and losses to be treated consistently with an underlying asset. NAT 9391
Foreign exchange (forex): the facilities roll-over election
This fact sheet provides an overview of the facilities roll-over election in relation to foreign exchange . NAT 13606
Foreign exchange (forex): the functioning currency election
The functional currency election allows certain entities or parts of entities that keep their accounts solely or predominantly in a particular foreign currency to choose that foreign currency as their functional currency.
Foreign exchange (forex): the general translation rule
The foreign exchange (forex) general translation rule is used to translate all tax-relevant amounts denominated in a foreign currency into Australian currency.
Foreign exchange (forex): the retranslation election
This election allows a taxpayer to bring to account gains and losses in relation to certain foreign currency accounts on a retranslation basis. NAT 8997
Foreign exchange (forex): the transitional election
This election allows certain arrangements spanning the commencement date to be brought within the new measures if the taxpayer chooses. NAT 9352
Foreign exchange (forex): trading stock valuations
This fact sheet deals with the translation of trading stock values assuming the taxpayer has not chosen to use an average rate of exchange for foreign currency amounts. An example scenario is also provided. NAT 10571
Foreign exchange (forex): translation of foreign currency rental expenses
This fact sheet provides information on the appropriate exchange rate to be used to translate foreign currency rental expenses into Australian dollars for tax purposes where an average rate of exchange has not been chosen to be used. An example scenario i
Foreign exchange (forex): translation of foreign currency rental income
This fact sheet provides information on the appropriate exchange rate to be used to translate foreign currency rental income into Australian dollars for tax purposes where an average rate of exchange has not been chosen to be used. An example scenario is
Foreign exchange (forex): translation of notional interest amounts under a hire purchase arrangement
This fact sheet deals with the translation of notional interest amounts which are deductible under a hire purchase arrangement. It includes an example scenario. NAT 13784
Foreign exchange (forex): translation of profit on notional sale under a hire purchase arrangement
This fact sheet deals with the translation of special accrual amounts into Australian currency under a foreign currency hire purchase arrangement where there is a profit on notional sale of property. NAT 13613
Foreign exchange (forex): use of first-in first-out method for fungible assets, rights and obligations
Monetary assets, rights and obligations can be described as 'fungible' because one unit of currency is identical to and interchangeable with any other unit. NAT 13593
Foreign exchange (forex): use of weighted average basis for fungible rights and obligations
Information on using a weighted average basis to translate foreign currency amounts into Australian dollar amounts. NAT 13596
Foreign exchange rates
List of daily, monthly and annual foreign exchange rates. Updated to include daily and monthly rates for April 2013.
Guide to functional currency rules
This guide provides an overview of the functional currency rules.
Foreign exchange (forex): acquisition of a CGT asset
This fact sheet explains the issue when an investor acquires a capital gains tax (CGT) asset. NAT 10557
Foreign exchange (forex): acquisition of a CGT asset (election out of 12 month rule)
An example of what happens when an investor acquires a CGT asset and elects out of the 12 month rule. NAT 10625
Foreign exchange (forex): disposal of CGT asset denominated in foreign currency - incidental costs (election out of 12 month rule)
Information about the disposal of CGT asset denominated in foreign currency. NAT 10627
Foreign exchange (forex): disposal price of CGT asset denominated in foreign currency
An example of what happens when the disposal price of a capital gains tax (CGT) asset is denominated in a foreign currency. NAT 10628
Foreign exchange (forex): disposal price of CGT asset denominated in foreign currency (election out of 12 month rule)
An example of what happens when the disposal price of a capital gains tax (CGT asset) is denominated in foreign currency and you elect not to have the 12 month rule apply. NAT 10654
Foreign exchange (forex): the 12 month rule
Allows short-term foreign exchange gains and losses to be treated consistently with an underlying asset. NAT 9391
Foreign exchange (forex): acquisition of an overseas rental property
This fact sheet deals with the translation of the acquisition cost of rental property which is denominated in a foreign currency. Information provided includes whether a forex realisation event will occur, and what the forex gain or loss will be.
Foreign exchange (forex): general information on average rates
This document provides general information on the use of average rates in relation to foreign exchange (forex) measures. It includes details on when the average rates can be used, and where the average rates can be obtained. NAT 13434
Foreign exchange (forex): the general translation rule
The foreign exchange (forex) general translation rule is used to translate all tax-relevant amounts denominated in a foreign currency into Australian currency.
Foreign exchange (forex): trading stock valuations
This fact sheet deals with the translation of trading stock values assuming the taxpayer has not chosen to use an average rate of exchange for foreign currency amounts. An example scenario is also provided. NAT 10571
Foreign exchange (forex): translation of foreign currency rental expenses
This fact sheet provides information on the appropriate exchange rate to be used to translate foreign currency rental expenses into Australian dollars for tax purposes where an average rate of exchange has not been chosen to be used. An example scenario i
Foreign exchange (forex): translation of foreign currency rental income
This fact sheet provides information on the appropriate exchange rate to be used to translate foreign currency rental income into Australian dollars for tax purposes where an average rate of exchange has not been chosen to be used. An example scenario is
Foreign exchange (forex): translation of notional interest amounts under a hire purchase arrangement
This fact sheet deals with the translation of notional interest amounts which are deductible under a hire purchase arrangement. It includes an example scenario. NAT 13784
Foreign exchange (forex): translation of profit on notional sale under a hire purchase arrangement
This fact sheet deals with the translation of special accrual amounts into Australian currency under a foreign currency hire purchase arrangement where there is a profit on notional sale of property. NAT 13613
Foreign exchange (forex): use of first-in first-out method for fungible assets, rights and obligations
Monetary assets, rights and obligations can be described as 'fungible' because one unit of currency is identical to and interchangeable with any other unit. NAT 13593
Foreign exchange (forex): use of weighted average basis for fungible rights and obligations
Information on using a weighted average basis to translate foreign currency amounts into Australian dollar amounts. NAT 13596
Foreign exchange (forex): applying the measures to a substituted accounting period
This document offers information and an example scenario on the application of the foreign exchange (forex) measures to taxpayers operating on a substituted accounting period. NAT 11535
Foreign exchange (forex): election out of the 12 month rule
This election allows you to opt out of the special operation of the 12 month rule on short-term disposals or acquisitions of certain assets.
Foreign exchange (forex): the $250,000 balance election
This election allows gains and losses arising in respect of transactions on certain low balance bank and credit card foreign currency accounts to be disregarded.
Foreign exchange (forex): the facilities roll-over election
This fact sheet provides an overview of the facilities roll-over election in relation to foreign exchange . NAT 13606
Foreign exchange (forex): the functioning currency election
The functional currency election allows certain entities or parts of entities that keep their accounts solely or predominantly in a particular foreign currency to choose that foreign currency as their functional currency.
Foreign exchange (forex): the retranslation election
This election allows a taxpayer to bring to account gains and losses in relation to certain foreign currency accounts on a retranslation basis. NAT 8997
Foreign exchange (forex): the transitional election
This election allows certain arrangements spanning the commencement date to be brought within the new measures if the taxpayer chooses. NAT 9352
Foreign exchange (forex): foreign currency denominated bank accounts
This document provides answers to some frequently asked questions about the general application of foreign currency tax laws to foreign currency denominated bank accounts.
Foreign exchange (forex): foreign currency denominated shares
This document demonstrates the application of the foreign exchange gain and loss measures to the acquisition and/or disposal of ordinary shares denominated in a foreign currency.
Foreign exchange (forex): hedging transactions
This document provides information on how entities should calculate their foreign currency gain or loss where they have entered into foreign currency hedging transactions.
Foreign exchange (forex): functional currency - accounting and reporting
This document provides an overview of the functional currency rules and how they affect tax accounting and reporting. It includes information on non-functional currency amounts received or paid, and activity statement reporting during the year. NAT 10472
Foreign exchange (forex): functional currency - overview and eligibility
This document provides an overview of the functional currency rules. It includes information on how the functional currency rules work, eligibility requirements, and when a choice must be made. NAT 10471
Foreign exchange (forex): the functioning currency election
The functional currency election allows certain entities or parts of entities that keep their accounts solely or predominantly in a particular foreign currency to choose that foreign currency as their functional currency.
Guide to functional currency rules
This guide provides an overview of the functional currency rules.
Foreign exchange (forex): overview
This document provides an overview of the foreign exchange (forex) measures including information on the start date of the measures, which taxpayers the measures apply to, and the main changes between the new and old forex laws.
Foreign exchange (forex): questions and answers
This document contains answers to commonly asked foreign exchange (forex) questions including information on when the measures started, and what elections are available under the measures. NAT 8996
Foreign exchange (forex): realisation event 1
The first of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to disposal between entities. NAT 9338
Foreign exchange (forex): realisation event 2
The second of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to the cessation of rights to receive. NAT 9341
Foreign exchange (forex): realisation event 3
The third of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to cessation of obligations to receive. NAT 9340
Foreign exchange (forex): realisation event 4
The fourth of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to the cessation of obligations to pay. NAT 9342
Foreign exchange (forex): realisation event 5
The fifth of the specified foreign exchange (forex) events by which forex gains and losses are brought to account due to cessation of rights to pay. NAT 9343
Foreign exchange (forex): realisation event ordering rules
This document provides information on the ordering rules which may apply where transactions denominated in a foreign currency give rise to multiple foreign exchange realisation events. Worked examples are provided to illustrate key points.
Foreign exchange rates
List of daily, monthly and annual foreign exchange rates. Updated to include daily and monthly rates for April 2013.
 
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