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 775-150   Transitional election  

775-150(1)  
You may elect to have this section apply to you.

Note:

For the consequences of an election, see sections 775-160 and 775-165 .

775-150(2)  
An election must be in writing.

775-150(3)  
An election must be made:


(a) within 60 days after the applicable commencement date; or


(b) within 30 days after the commencement of this subsection.

Note:

For applicable commencement date , see section 775-155 .

775-150(4)  
An election may not be revoked.


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