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Taxation consequences of exchange gains and losses in Australia

Publication date: 01 Apr 99 | Source: NEW ZEALAND JOURNAL OF TAXATION LAW AND POLICY

Issue: Vol 5, No 1

Pages: pp.48-61

Technological developments and the removal of constraints on international trade have led to an increasing number of cross-border transactions. Such transactions have interesting tax consequences as fluctuations in the exchange rate can result in losses to taxpayers liable to make payments in a foreign currency, and gains to those entitled to receive payments in a foreign currency. This article outlines the treatment of foreign gains and losses in Australia.

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Author profile

Dr Nabil Orow CTA
Bill (Nabill) is a practicing member of the Victorian Bar who specialises in state and federal taxation law as well as trusts, succession, property and corporations law. He has published widely including a book on comparative anti avoidance rules published in the UK and a joint book with R Deutsch titled, Income Tax and GST Planning StrateDistributing to Corporate - Current at 23 July 2010
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