Income Tax Assessment Act 1997
View history note
Hide history noteThe forex entitlement base of a right, or a part of a right, to pay *foreign currency is the total of:
(a) the money you:
(i) are entitled to receive; or
in respect of the discharge or satisfaction of the right or the part of the right; and
(ii) would be entitled to receive in the event of the exercise of an option;
(b) the *market value of any *non-cash benefit you:
(i) are entitled to acquire or obtain; or
in respect of the discharge or satisfaction of the right or the part of the right;
(ii) would be entitled to acquire or obtain in the event of the exercise of an option;
reduced by:
(c) any amounts that you paid to acquire the right or the part of the right, where the amounts are not deductible under a provision of this Act other than this Division; and
(d) the market value of any non-cash benefit that you provided to acquire the right or the part of the right, where the market value is not deductible under a provision of this Act other than this Division.
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