Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf you choose retranslation for a qualifying forex account:
(a) a forex realisation gain or a forex realisation loss you make in relation to the account as a result of forex realisation event 2 or 4 is disregarded; and
(b) forex realisation event 8 enables any gains or losses to be worked out on a retranslation basis.
Table of sections
Operative provisions
775 - 270 You may choose retranslation for a qualifying forex account
775 - 275 Withdrawal of choice
775 - 280 Tax consequences of choosing retranslation for an account
775 - 285 Retranslation of gains and losses relating to a qualifying forex account--forex realisation event 8