Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

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History

Chapter 4 inserted by No 162 of 2001.

PART 4-5 - GENERAL  

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Part 4-5 inserted by No 162 of 2001.

Division 775 - Foreign currency gains and losses  

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Div 775 inserted by No 133 of 2003.

Subdivision 775-F - Retranslation under foreign exchange retranslation election under Subdivision 230-D  

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Subdiv 775-F inserted by No 15 of 2009 , s 3 and Sch 1 item 6, effective 26 March 2009. For application and transitional provisions see note under Div 230 heading.

Guide to Subdivision 775-F

SECTION 775-290   What this Subdivision is about  

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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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History

S 775-290 inserted by No 15 of 2009 , s 3 and Sch 1 item 6, effective 26 March 2009. For application and transitional provisions see note under Div 230 heading.

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