INCOME TAX ASSESSMENT ACT 1997 - SECT 775.125 CGT consequences of the acquisition of foreign currency as a result of forex realisation event 2 or 3
INCOME TAX ASSESSMENT ACT 1997 - SECT 775.125
CGT consequences of the acquisition of foreign currency as a result of forex realisation event 2 or 3If you acquire * foreign currency as a result of forex realisation event 2 or 3:
(a) the first element of the foreign currency's * cost base is replaced by the foreign currency's * market value at the time you received the foreign currency; and
(b) the first element of the foreign currency's *
reduced cost base is replaced by the foreign currency's market value at
the time you received the foreign currency.