Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 775 - Foreign currency gains and losses  

Subdivision 775-B - Realisation of forex gains or losses  

SECTION 775-130   775-130   Certain deductions not allowable  

If:

(a) an amount is included in your assessable income under this Division; and

(b) if this Division had not been enacted, the amount would not have been included in your assessable income under any other provision of this Act (other than Division 102 ); and

(c) if this section had not been enacted, a deduction would be allowable to you under a provision listed in the table in subsection 51AAA(2) of the Income Tax Assessment Act 1936 ; and

(d) if the amount had not been included in your assessable income under this Division, the deduction would not be allowable;

the deduction is not allowable.