Income Tax Assessment Act 1997
View history note
Hide history noteForex realisation event 1, 2 or 4 applies in relation to:
(a) *foreign currency; or
(b) a fungible right, or a part of a fungible right, to receive foreign currency; or
(c) a fungible obligation, or a part of a fungible obligation, to pay foreign currency;
on a first-in first-out basis.
775-145(2)
The regulations may provide that any or all of forex realisation events 1, 2 and 4 apply, or apply in specified circumstances, to:
(a) *foreign currency; or
(b) a fungible right, or a part of a fungible right, to receive foreign currency; or
(c) a fungible obligation, or a part of a fungible obligation, to pay foreign currency;
on a weighted average basis (despite subsection (1)).
775-145(3)
The circumstances that may be specified for the purposes of subsection (2) include the circumstance that you have made an election to use a weighted average basis.
775-145(4)
Subsection (3) does not limit subsection (2).
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
