Foreign Currency Gains & Losses - the next instalment seminar paper

Published on 27 Feb 03 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

The taxation of foreign currency gains and losses has long been a complex and important issue for all financial institutions. This seminar paper picks up on the latest developments.
- What is wrong with the current law and administration and needs fixing?
- Revenue/capital characterisation and hedging rules
- Review of draft legislation (assuming released) as announced in the 2002 Federal Budget
- What else should be done - are the proposed rules adequate for players in the financial services industry?

An updated version of this paper was presented by Tony at the NSW International Masterclass held in Sydney on 22 July 2003. Click here to view that paper.

Author profile

Anthony Frost CTA

Tony is the Managing Director of Greenwoods & Freehills. With more than 25 years experience in tax, Tony has a focus on financial services and financial transactions. Tony has advised clients on a wide range of tax matters, including innovative financial products, mergers and acquisitions, cross-border dealings, transfer pricing, tax audits and negotiations with the Australian Taxation Office. Tony has also advised clients on various OBU matters over many years, and is part of the consultation group set up by Treasury to discuss changes to the OBU rules announced in the previous government’s 2013-14 Budget. - Current at 22 May 2017

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• TOFA Stages 3 and 4 - the marathon enters final phase. - 07-January-2009
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• Taxation of financial arrangements - 15-May-1998
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• Inside the OECD: Part 5 - Taxing derivatives - 01-June-1997
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• Recent developments in debt financing - 15-November-1996
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Click here to expand/collapse more articles by Tony FROST.