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Reporting foreign exchange gains and losses

Last updated 4 July 2023

Part A requires you to provide information about FX gains you have returned and FX losses you have deducted on a per transaction or RAS basis in relation to IRPDs.

The specific instructions for FX gains and losses confirm the amounts to be shown are the amounts returned or deducted for Australian income tax purposes:

  • where the taxation of financial arrangements (TOFA) provisions in Division 230 of the ITAA 1997 do not apply – under Subdivisions 775–A to 775–E of the ITAA 1997, as applicable
  • where TOFA provisions in Division 230 do apply – under Division 230 and Subdivisions 775–F of the ITAA 1997, as applicable.

Refer to Appendix 6 and Appendix 7 for more detailed instructions about reporting FX gains and losses in Part A.

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