Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-1
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CAPITAL GAINS AND LOSSES: GENERAL TOPICS
CGT event K11 happens if:
(a) you make a *forex realisation loss as a result of forex realisation event 2; and
(b) item 1 of the table in subsection 775-75(1) applies. 104-265(2)
The time of the event is when the forex realisation event happens. 104-265(3)
You make a capital loss equal to the *forex realisation loss.
Division 104
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CGT events
Subdivision 104-K
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Other CGT events
SECTION 104-265
Certain short-term forex realisation losses: CGT event K11
104-265(1)
CGT event K11 happens if:
(a) you make a *forex realisation loss as a result of forex realisation event 2; and
(b) item 1 of the table in subsection 775-75(1) applies. 104-265(2)
The time of the event is when the forex realisation event happens. 104-265(3)
You make a capital loss equal to the *forex realisation loss.
Note:
You cannot make a capital gain under CGT event K11. However, if you make a forex realisation gain covered by item 1 of the table in subsection 775-70(1) , you will make a capital gain under CGT event K10 (see section 104-260 ).
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