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Foreign currency gains and losses (case studies)
Published on 29 Aug 02 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
This seminar paper provides a series of case studies discussing foreign currency gains and losses, including: what is wrong with the current law and administration, interaction between Division 3B, CGT and general income tax rules, what is the likely scope of the legislation to give effect to the Budget announcements on this topic, revenue/capital characterisation, timing and hedging rules.
Author profile
Anthony Frost CTA
Tony Frost, CTA, Greenwoods &
Herbert Smith Freehills’ Managing
Director, is a tax lawyer and Chartered
Accountant, with a career spanning
more than three decades. During this
time, he has advised clients on a wide
range of matters, including financial
transactions, ATO audits and disputes,
and the tax aspects of mergers,
acquisitions and transfer pricing. Tony
has been closely involved in many
successful and unsuccessful tax reform
projects over the last 30 years or so,
including in his role as a key adviser to
the Australian Banking Association, and
also as an occasional adviser/consultant
to the Treasury, ATO and the Board of
Taxation. Before joining Greenwoods
in 2003, Tony was a partner in a global
chartered accounting firm and held a
senior position in a leading Australian
bank. Tony is a prolific author of tax
articles and seminar papers and is
regularly invited to speak at industry
events and conferences. He spent
15 years as a lecturer in the Master
of Laws program at the University
of Sydney. Tony is a Chartered Tax
Adviser of The Tax Institute, a member
of the Law Society of NSW and
Chartered Accountants Australia and
New Zealand, and a member of the
International Fiscal Association.
- Current at
01 November 2018
This was presented at 10th National Tax Instensive Retreat - "Every Tax Old Is New Again" .
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Individual sessions
The distinction between capital and income receipts
Author(s): Rob O'CONNORMaterials from this session:
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Evaluating the new general value shifting regime
Author(s): Dr Michael DIRKISMaterials from this session:
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Demergers and corporate reconstructions
Author(s): Gordon THRINGMaterials from this session:
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Workshop: demergers
Author(s): Tony BAXTER, Mark FRIEZER, Damien L LOCKIE, Peter MURRAYMaterials from this session:
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Tax issues on winding up
Author(s): Andrew SINCLAIRMaterials from this session:
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Foreign currency gains and losses
Author(s): Tony FROSTMaterials from this session:
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