Published on 16 Sep 05
by THE TAX INSTITUTE
A joint professional body submission on the draft tax determination TD 2005/D32 - Income Tax: can an Australian incorporated subsidiary of a foreign group which records the results of it worldwide business in a foreign currency, choose to use that foreign currency as its 'applicable functional currency', where it prepares financial statements in Australian dollars for statutory reporting purposes?
NATIONAL INSTITUTE OF ACCOUNTANTS
TAXATION INSTITUTE OF AUSTRALIA