New Business Tax System (Taxation of Financial Arrangements) Act (No. 1) 2003 (133 of 2003)

Schedule 4   Foreign currency

Part 2   Transitional provisions

79   Transitional - sections 12-15 and 425-30 in Schedule 1 to the Taxation Administration Act 1953

Despite the repeals of sections 12-15 and 425-30 in Schedule 1 to the Taxation Administration Act 1953 by this Schedule, those sections continue to apply, in relation to an amount:

(a) that is in a foreign currency; and

(b) to which section 960-50 of the Income Tax Assessment Act 1997 does not apply;

as if those repeals had not happened.