1

you make a * forex realisation gain as a result of forex realisation event 2, and:

(a) the right to receive * foreign currency was created in return for the occurrence of a * realisation event in relation to a * CGT asset you own; and

(b) item   6 of the table in subsection   775 - 45(7) applies; and

(c) the foreign currency became due for payment within 12 months after the occurrence of the realisation event

(a) the forex realisation gain is not included in your assessable income under section   775 - 15; and

(b) CGT event K10 happens.

2

you make a * forex realisation gain as a result of forex realisation event 4, and:

(a) the obligation to pay * foreign currency was incurred:

(i) in return for the acquisition of a * CGT asset; or

(ii) as the second, third, fourth or fifth element of the * cost base of a CGT asset; and

(b) item   9 of the table in subsection   775 - 55(7) applies; and

(c) the foreign currency became due for payment within 12 months after the time when:

(i) if subparagraph   (a)(i) applies--you acquired the CGT asset (worked out under Division   109); or

(ii) if subparagraph   (a)(ii) applies--you incurred the relevant expenditure

(a) the forex realisation gain is not included in your assessable income under section   775 - 15; and

(b) both the * cost base and the * reduced cost base of the CGT asset are reduced by an amount equal to the forex realisation gain.

3

you make a * forex realisation gain as a result of forex realisation event 4, and:

(a) the obligation to pay * foreign currency was incurred:

(i) in return for your starting to hold a * depreciating asset; or

(ii) as the second element of the cost of a depreciating asset; and

(b) if subparagraph   (a)(i) applies--the foreign currency became due for payment within the 24 - month period that began 12 months before the time when you began to hold the depreciating asset (worked out under Division   40); and

(c) if subparagraph   (a)(ii) applies--the foreign currency became due for payment within 12 months after the time when you incurred the relevant expenditure

(a) the forex realisation gain is not included in your assessable income under section   775 - 15; and

(b) if:

(i) the forex realisation event happens in the income year in which the asset's * start time occurs; and

(ii) the asset is not allocated to a pool under Subdivision   40 - E or 328 - D;

  the asset's * cost is reduced (but not below zero) by an amount equal to the forex realisation gain; and

(c) if:

(i) the forex realisation event happens in an income year that is later than the one in which the asset's * start time occurs; and

(ii) the asset is not allocated to a pool under Subdivision   40 - E or 328 - D;

  the depreciating asset's * opening adjustable value for the income year in which the forex realisation event happens is reduced (but not below zero) by an amount equal to the forex realisation gain; and

(d) if the asset is allocated to a pool under Subdivision   40 - E or 328 - D--the opening pool balance of the pool for the income year in which the forex realisation event happens is reduced (but not below zero) by an amount equal to the forex realisation gain.

4

you make a * forex realisation gain as a result of forex realisation event 4, and:

(a) the obligation to pay * foreign currency was incurred as a project amount; and

(b) the foreign currency became due for payment within 12 months after the time when you incurred the project amount; and

(c) the project amount is allocated to a project pool

(a) the forex realisation gain is not included in your assessable income under section   775 - 15; and

(b) the pool value of the project pool for the income year in which you incurred the project amount is reduced (but not below zero) by an amount equal to the forex realisation gain.

1

item   3 of the table in subsection   (1) applies in relation to a * depreciating asset

(a) the forex realisation event happens in the income year in which the asset's * start time occurs; and

(b) the asset is not allocated to a pool under Subdivision   40 - E or 328 - D; and

(c) the forex realisation gain exceeds the asset's * cost

the excess is included in your assessable income.

2

item   3 of the table in subsection   (1) applies in relation to a * depreciating asset

(a) the forex realisation event happens in an income year that is later than the one in which the asset's * start time occurs; and

(b) the asset is not allocated to a pool under Subdivision   40 - E or 328 - D; and

(c) the forex realisation gain exceeds the asset's * opening adjustable value for the income year in which the forex realisation event happens

the excess is included in your assessable income.

3

item   3 of the table in subsection   (1) applies in relation to a * depreciating asset

(a) the asset is allocated to a pool under Subdivision   40 - E or 328 - D; and

(b) the forex realisation gain exceeds the opening pool balance of the pool for the income year in which the forex realisation event happens

the excess is included in your assessable income.

4

item   4 of the table in subsection   (1) applies in relation to a project amount

the forex realisation gain exceeds the pool value of the project pool for the income year in which you incurred the project amount

the excess is included in your assessable income.