Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 775 - Foreign currency gains and losses  

Subdivision 775-F - Retranslation under foreign exchange retranslation election under Subdivision 230-D  

Guide to Subdivision 775-F

SECTION 775-310   When election ceases to apply to arrangement  

775-310(1)    
For the purposes of this Division, a *foreign exchange retranslation election under subsection 230-255(1) ceases to apply to an *arrangement from the start of an income year if the arrangement ceases to satisfy a requirement of paragraph 775-295(1)(b) or (c) during that income year.

775-310(2)    
If the election ceases to apply to an *arrangement under subsection (1), the election cannot subsequently reapply to that arrangement (even if the requirements of paragraphs 775-295(1)(b) and (c) are satisfied once more in relation to the arrangement).