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11 May 06 CGT: Disposal of foreign currency and FRE 1 - TD 2006/32

This final Taxation Determination was issued on 10 May 2006. It was previously released in draft form as TD 2006/D5: see 2006 TAXVINE No 1 (15) (27 January 2006). Its full title is "Income tax: where there is a disposal of foreign currency or a right to receive foreign currency and forex realisation event 1 happens, is the amount attributable to a currency exchange rate effect determined by subtracting the non-forex component of the capital gain (or loss) from the overall capital gain (or loss)?" The answer given is Yes.

For a copy of TD 2006/32, go here

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