Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 5/22)
Character Range: 6952914–6955855

application of section 960‑50 to this section:
 (a) if a retranslation period for an account did not begin immediately after the end of another retranslation period for the account—the opening balance of the account for the first‑mentioned retranslation period is to be translated to Australian currency at the exchange rate applicable at the start of the first‑mentioned retranslation period; and
 (b) if a retranslation period for an account began immediately after the end of another retranslation period for the account—the opening balance of the account for the first‑mentioned retranslation period is to be translated to Australian currency at the exchange rate applicable at the end of the other retranslation period; and
 (c) the closing balance of an account for a retranslation period is to be translated to Australian currency at the exchange rate applicable at the end of the retranslation period; and
 (d) each deposit is to be translated to Australian currency at the exchange rate applicable at the time of the deposit; and
 (e) each withdrawal is to be translated to Australian currency at the exchange rate applicable at the time of the withdrawal.

Deposits
 (10) For the purposes of this section, a deposit includes any amount paid or transferred into the account.

Withdrawals
 (11) For the purposes of this section, a withdrawal includes any amount paid, advanced, drawn or transferred out of the account.

Subdivision 775‑F—Retranslation under foreign exchange retranslation election under Subdivision 230‑D

Guide to Subdivision 775‑F

775‑290  What this Subdivision is about
      If you have made a foreign exchange retranslation election under Subdivision 230‑D:

                (a) a forex realisation gain or a forex realisation loss you make in relation to an arrangement that is not a Division 230 financial arrangement as a result of forex realisation event 1 to 5 or 8 is disregarded; and
                (b) forex realisation event 9 enables any gains or losses to be worked out on a retranslation basis.

Table of sections
775‑295 When this Subdivision applies
775‑300 Tax consequences of choosing retranslation for arrangement
775‑305 Retranslation of gains and losses relating to arrangement to which foreign exchange retranslation election applies—forex realisation event 9
775‑310 When election ceases to apply to arrangement
775‑315 Balancing adjustment when election ceases to apply to arrangement

775‑295  When this Subdivision applies
 (1) A *foreign exchange retranslation election applies to an *arrangement for the purposes of this Subdivision if:
 (a) you start to have the arrangement after the start of the income year in which the election is made; and
 (b) the arrangement is recognised in financial reports of a kind referred to in paragraph 230‑255(2)(a) that are audited, or required to be audited, as referred to in paragraph 230‑255(2)(b); and
 (c) the arrangement is one in relation