Tax Laws Amendment (Taxation of Financial Arrangements) Act 2009 (15 of 2009)
Schedule 1 Amendments
Part 1 Main amendments
Income Tax Assessment Act 1997
5 After subsection 775-270(1)
Insert:
(1A) A choice under subsection (1) does not apply to a *qualifying forex account held by you if a *foreign exchange retranslation election by you is in effect in relation to the account under Subdivision 230-D.
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