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Lost in translation: Forex case studies paper

Published on 14 Aug 09

Tax practitioners are constantly facing questions regarding the tax treatment of foreign exchange gains and losses. Despite considerable reform in 2003 the foreign exchange rules still remain a mystery to many advisers. This paper considers, through a series of case studies, commonly encountered problem areas concerning foreign exchange gains and losses. Topics covered include:

  • tax v accounting
  • pre-Division 775 transactions
  • announced but unenacted changes
  • issues with bank accounts
  • impact of TOFA.

Author profiles

Erin Gordon
Erin joined the Australian Taxation Office in February 2007 as a graduate and is now a Senior Technical Adviser in the Tax Counsel Network (part of the Law and Practice Group). Erin provides interpretative advice and support to other areas of the office on a range of revenue law matters. However, he specialises in the taxation of foreign exchange gains and losses and has worked closely with Treasury developing new measures and amendments in this area of the law. - Current at 16 March 2016
Walter Gianotti CTA
Walter Gianotti, CTA, is a Tax Counsel at the ATO in Perth. He has over 20 years' experience in tax, predominantly in corporate taxation with a particular focus on mergers and acquisitions, demergers, capital management transactions and banking and finance issues. Walter is a State Councillor with The Tax Institute. - Current at 18 July 2016


This was presented at 2009 WA State Convention: The Road to Success .

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Individual sessions

Is Recovery the new R-word?

Author(s):  John NICOLAOU

Materials from this session:

Working together in challenging times

Author(s):  Bruce QUIGLEY

Materials from this session:

Lost in translation: foreign exchange gains and losses

Author(s):  Erin GORDON,  Walter GIANOTTI

Materials from this session:

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