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Session 4.3: The taxation of forex gains and losses

With Greig Hubbard, Deloitte; Abdol Mostafavi, Deloitte

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 session will provide 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, as well as the proposals for legislative reform.  It also covers a few practical case studies aimed at non-financial institution corporate taxpayers who have entered into some typical foreign currency transactions.

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