Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 104.260

  (1)   CGT event K10 happens if:

  (a)   you make a * forex realisation gain as a result of forex realisation event 2; and

  (b)   item   1 of the table in subsection   775 - 70(1) applies.

  (2)   The time of the event is when the forex realisation event happens.

  (3)   You make a capital gain equal to the * forex realisation gain.

Note:   You cannot make a capital loss under CGT event K10. However, if you make a forex realisation loss covered by item   1 of the table in subsection   775 - 75(1), you will make a capital loss under CGT event K11 ( see section   104 - 265).