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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 104 - CGT events  

Subdivision 104-K - Other CGT events  

SECTION 104-260  Certain short-term forex realisation gains: CGT event K10  

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104-260(1)  

CGT event K10 happens if:


(a) you make a *forex realisation gain as a result of forex realisation event 2; and


(b) item 1 of the table in subsection 775-70(1) applies.

104-260(2)  

The time of the event is when the forex realisation event happens.

104-260(3)  

You make a capital gain equal to the *forex realisation gain.

Note:

You cannot make a capital loss under CGT event K10. However, if you make a forex realisation loss covered by item 1 of the table in subsection 775-75(1) , you will make a capital loss under CGT event K11 (see section 104-265 ).


 



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