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INCOME TAX ASSESSMENT ACT 1997 - SECT 104.260

Certain short-term forex realisation gains: CGT event K10

             (1)  CGT event K10 happens if:

                     (a)  you make a * forex realisation gain as a result of forex realisation event 2; and

                     (b)  item 1 of the table in subsection 775-70(1) applies.

             (2)  The time of the event is when the forex realisation event happens.

             (3)  You make a capital gain equal to the * forex realisation gain.

Note:          You cannot make a capital loss under CGT event K10. However, if you make a forex realisation loss covered by item 1 of the table in subsection 775-75(1), you will make a capital loss under CGT event K11 ( see section  104- 265).



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