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 775-85   775-85   Forex cost base of a right to receive foreign currency  


The forex cost base of a right, or a part of a right, to receive *foreign currency is the total of:


(a) the money you:


(i) paid; or

(ii) are required to pay; or

(iii) would be required to pay in the event of the exercise of an option;
in respect of acquiring the right or part of the right; and


(b) the *market value of any *non-cash benefit you:


(i) provided; or

(ii) are required to provide; or

(iii) would be required to provide in the event of the exercise of an option;
in respect of acquiring the right or part of the right;

reduced by any amounts that are deductible under a provision of this Act other than this Division.


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