Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 775.85

Forex cost base of a right to receive foreign currency

                   The forex cost base of a right, or a part of a right, to receive * foreign currency is the total of:

                     (a)  the money you:

                              (i)  paid; or

                             (ii)  are required to pay; or

                            (iii)  would be required to pay in the event of the exercise of an option;

                            in respect of acquiring the right or part of the right; and

                     (b)  the * market value of any * non-cash benefit you:

                              (i)  provided; or

                             (ii)  are required to provide; or

                            (iii)  would be required to provide in the event of the exercise of an option;

                            in respect of acquiring the right or part of the right;

reduced by any amounts that are deductible under a provision of this Act other than this Division.



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