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  • Foreign currency translation rules



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    The New Business Tax System (Taxation of Financial Arrangements) Act (No. 1) 2003 introduced a package of new measures dealing with the taxation of foreign currency gains and losses contained in Division 775 of the ITAA 1997, and the foreign currency translation rules contained in Subdivision 960-C of the ITAA 1997 (and also the functional currency rules contained in Subdivision 960-D).

    For more information about the foreign currency translation rules, see:

    Last modified: 29 Jul 2020QC 21714