INCOME TAX ASSESSMENT ACT 1997 - SECT 104.265 Certain short - term forex realisation losses: CGT event K11
INCOME TAX ASSESSMENT ACT 1997 - SECT 104.265
Certain short - term forex realisation losses: CGT event K11(a) you make a * forex realisation loss as a result of forex realisation event 2; and
(b) item 1 of the table in subsection 775 - 75(1) applies.
(2) The time of the event is when the forex realisation event happens.
(3) You make a capital loss equal to the * forex realisation loss.
Note: You cannot make a capital gain under CGT event K11 . However, if
you make a forex realisation gain covered by item 1 of the table in
subsection 775 - 70(1), you will make a capital gain under CGT event
K10 ( see section 104 - 260).