Tax Laws Amendment (2010 Measures No. 4) Act 2010 (136 of 2010)

Schedule 3   Taxation of financial arrangements

Part 3   Foreign currency amendments

Income Tax Assessment Act 1997

148   After section 775-165

Insert:

775-168 Exception - disposal or redemption of traditional securities

A *forex realisation gain or *forex realisation loss you make as a result of forex realisation event 2 is disregarded if the event happened because of a disposal or redemption covered by:

(a) subsection 26BB(4) or (5) of the Income Tax Assessment Act 1936; or

(b) subsection 70B(2B) or (2C) of that Act.