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-F - Retranslation under foreign exchange retranslation election under Subdivision 230-D  

Guide to Subdivision 775-F

SECTION 775-290   775-290   What this Subdivision is about  


If you have made a foreign exchange retranslation election under Subdivision 230-D:

  • (a) a forex realisation gain or a forex realisation loss you make in relation to an arrangement that is not a Division 230 financial arrangement as a result of forex realisation event 1 to 5 or 8 is disregarded; and
  • (b) forex realisation event 9 enables any gains or losses to be worked out on a retranslation basis.

  • Table of sections
    Table of sections
    775-295 When this Subdivision applies
    775-300 Tax consequences of choosing retranslation for arrangement
    775-305 Retranslation of gains and losses relating to arrangement to which foreign exchange retranslation election applies - forex realisation event 9
    775-310 When election ceases to apply to arrangement
    775-315 Balancing adjustment when election ceases to apply to arrangement


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