INCOME TAX ASSESSMENT ACT 1997 - SECT 775.290 What this Subdivision is about
INCOME TAX ASSESSMENT ACT 1997 - SECT 775.290
What this Subdivision is aboutIf 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.
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