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Foreign currency gains and losses

Publication date: 29 Aug 02

Source: NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

Abstract:
This seminar paper discusses foreign currency gains and losses, including: what is wrong with the current law and administration, interaction between Division 3B, CGT and general income tax rules, what is the likely scope of the legislation to give effect to the Budget announcements on this topic, revenue/capital characterisation, timing and hedging rules.

Author profile:

Anthony Frost CTA
Tony is the Managing Director of Greenwoods & Freehills. With more than 25 years experience in tax, Tony has a focus on financial services and financial transactions. Tony has advised clients on a wide range of tax matters, including innovative financial products, mergers and acquisitions, crossborder dealings, transfer pricing, tax audits and negotiations with the Australian Taxation Office. For better or worse, Tony has been involved in the taxation of the financial arrangements reform project since its inception in 1991 and spoke on the same topic at the 11th National Convention in 1993.
Current at 16 November 2012
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