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Taxation of foreign exchange gains and losses for corporates paper

Published on 23 Oct 13 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

In a volatile exchange rate environment, it is important that taxpayers understand the complex rules governing the taxation of foreign exchange gains and losses. This paper provides an overview of the manner in which the disparate regimes in Division 230 (TOFA), Division 775, the translation rules in Division 960 and “legacy” regimes interact. It also covers some practical case studies aimed at non-financial institution corporate taxpayers who may have:

  • entered into financing arrangements in foreign currency;
  • entered into foreign currency derivatives;
  • made investments in foreign currency denominated assets;
  • made outbound investments in foreign currency.

Author profiles:

Abdol MOSTAFAVI

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Craig MARSTON

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