INCOME TAX ASSESSMENT ACT 1997 - SECT 775.135 Right to receive or pay foreign currency
INCOME TAX ASSESSMENT ACT 1997 - SECT 775.135
Right to receive or pay foreign currencyExtended meaning of right to receive foreign currency
(1) For the purposes of this Division, a right to receive foreign currency includes a right to receive an amount calculated by reference to a currency exchange rate effect, even if that amount is not an amount of * foreign currency.
(2) To avoid doubt, for the purposes of this Division, a right to receive foreign currency includes a right to receive * foreign currency, where the right is subject to a contingency.
Extended meaning of right to pay foreign currency
(3) For the purposes of this Division, a right to pay foreign currency includes a right to pay an amount calculated by reference to a currency exchange rate effect, even if that amount is not an amount of * foreign currency.
(4) To avoid doubt, for the purposes of this Division, a right
to pay foreign currency includes a right to pay * foreign currency, where the
right is subject to a contingency.