Document ID: chunk:federal_register_of_legislation:C2024C00818:section:58h
Version: federal_register_of_legislation:C2024C00818
Segment Type: section
Provision Reference: s 58H
Character Range: 203557–204253

58H  Translation rule—transfer of part of entitlement to assessable receipts
  If:
 (a) section 48A applies in relation to a transaction; and
 (b) a person is a purchaser (within the meaning of section 48A) in relation to the transaction; and
 (c) the person is taken, under section 48A, to have derived or incurred an amount; and
 (d) the transfer time (within the meaning of section 48A) occurred when an election made by the person under section 58B was in effect; and
 (e) the amount is not in the applicable functional currency;
the amount is to be translated into the applicable functional currency at the exchange rate applicable at the transfer time (within the meaning of section 48A).