INCOME TAX ASSESSMENT ACT 1997 - SECT 775.35 Certain forex realisation losses are disregarded
INCOME TAX ASSESSMENT ACT 1997 - SECT 775.35
Certain forex realisation losses are disregarded(1) A * forex realisation loss you make as a result of forex realisation event 1, 2 or 5 is disregarded to the extent that it is made in gaining or producing * exempt income or * non - assessable non - exempt income.
(2) A * forex realisation loss you make as a result of forex realisation event 3, 4 or 6 is disregarded to the extent that:
(a) it is made in gaining or producing * exempt income or * non - assessable non - exempt income; and
(b) the obligation, or the part of the obligation, does not give
rise to a deduction.