Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 775.90

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

  (a)   the money you:

  (i)   are entitled to receive; or

  (ii)   would be entitled to receive in the event of the exercise of an option;

    in respect of the discharge or satisfaction of the right or the part of the right; and

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

  (i)   are entitled to acquire or obtain; or

  (ii)   would be entitled to acquire or obtain in the event of the exercise of an option;

    in respect of the discharge or satisfaction of the right or the part of the right;

reduced by:

  (c)   any amounts that you paid to acquire the right or the part of the right, where the amounts are not deductible under a provision of this Act other than this Division; and

  (d)   the market value of any non - cash benefit that you provided to acquire the right or the part of the right, where the market value is not deductible under a provision of this Act other than this Division.