Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p4
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 4/4)
Character Range: 6863627–6864903

loss
 (5) You make a forex realisation loss if:
 (a) the amount you paid in respect of the event happening exceeds the proceeds of assuming the obligation or the part of the obligation (the proceeds are worked out as at the tax recognition time); and
 (b) some or all of the excess is attributable to a *currency exchange rate effect.
The amount of the forex realisation loss is so much of the excess as is attributable to a currency exchange rate effect.
Note 1: For proceeds of assuming the obligation, see section 775‑95.
Note 2: For tax recognition time, see subsection (7).
Note 3: For currency exchange rate effect, see section 775‑105.

Non‑cash benefit
 (6) The amount you paid in respect of the event happening can include a *non‑cash benefit. Use the *market value of the benefit to work out the amount you paid.

Tax recognition time
 (7) For the purposes of this section, the tax recognition time is worked out using the table:

Tax recognition time
Item                  In this case...                                                                                                                                                                                                                                                       the tax recognition time is...