Income Tax Assessment Act 1997
View history note
Hide history noteA currency exchange rate effect is:
(a) any currency exchange rate fluctuations; or
(b) a difference between:
(i) an expressly or implicitly agreed currency exchange rate for a future date or time; and
(ii) the applicable currency exchange rate at that date or time.
775-105(2)
To work out whether there is a currency exchange rate effect and (if so), the extent of that effect, use whichever of the following translation rules is applicable to you:
(a) the translation rules in section 960-50 (the standard rules);
(b) the translation rules in section 960-80 (the functional currency rules).
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