Miscellaneous 2008

Foreign exchange transactions: Current issues, tips and traps

Source: The Tax Specialist Journal Article

Published Date: 1 Feb 2008

After a long and troubled past, legislative clarification of the taxation of foreign exchange gains and losses for all manner of transactions was sought to be achieved with the introduction of Div 775 of the Income Tax Assessment Act 1997. Despite now being a part of our tax landscape for more than four years, Div 775 still causes angst. This article examines how Div 775 and administrative practices in relation to it have developed during its life and identifies key practical issues that remain a concern for many practitioners, highlighting tips and traps along the way. It concludes by considering what changes may be on the horizon for this area and what lessons we can take to the future.

Sorry, this is subscriber only content.

To gain access to this material and much more - Subscribe Now.

(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).

Already a Subscriber? Login now

Already a Subscriber? Login now


The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))


The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.


Miscellaneous 2008

Share this page