ITAA 1997 s 960-60(1)

Income tax: can an Australian resident entity which keeps its 'accounts' predominantly in a foreign currency, choose to use that foreign currency as its 'applicable functional currency', where the entity is required to prepare financial statements in Australian dollars for statutory reporting purposes?

Income tax: is the 'applicable functional currency' choice relevant for the purpose of applying the Fringe Benefits Tax, Goods and Services Tax, Superannuation Guarantee Charge and Pay As You Go withholding provisions?

Income tax: if an 'attributable taxpayer' makes a choice under item 4 of the table in subsection 960-60(1) of Subdivision 960-D of the Income Tax Assessment Act 1997, to use the 'applicable functional currency', will this choice apply to its calculation of 'attribution surplus' under section 370 of Part X of the Income Tax Assessment Act 1936?

Income tax: can a 'small proprietary company', not required to prepare reports under section 292 of the Corporations Act 2001 , make a choice to use the 'applicable functional currency' under item 1 of the table in subsection 960-60(1) of the Income Tax Assessment Act 1997 ?

Income tax: is the 'applicable functional currency' for the head company of a consolidated group determined by looking at the 'accounts' of all the members of the consolidated group, for the purposes of item 1 of subsection 960-60(1) of the Income Tax Assessment Act 1997 ?

Taxation of Financial Arrangements: applicable functional currency election, application of the special rule about translation and particular gains and losses under Subdivision 230-B of the Income Tax Assessment Act 1997

Taxation of financial arrangements: definition of a special accrual amount and the balancing adjustment in Subdivision 230-G

Functional currency: the interaction between 'functional currency' for accounting purposes and the 'applicable functional currency' for taxation purposes

Functional currency choice: initial exchange of currency under a cross-currency interest rate swap

Functional currency choice: re-exchange of currency under a cross-currency interest rate swap agreement

Functional currency choice: amounts borrowed/lent in a non-AUD currency which later becomes the 'applicable functional currency'

Functional currency choice: amounts borrowed/lent in a non-AUD currency other than the one which later becomes the 'applicable functional currency'

Functional currency choice: repayment of principal amounts on loans denominated in a non-AUD currency which later becomes the 'applicable functional currency'

Functional currency choice: repayment of principal amounts on loans denominated in a non-AUD currency other than the one which later becomes the 'applicable functional currency'

Functional currency choice: meaning of sole or predominant currency in which you keep your 'accounts'

Income tax: is the 'applicable functional currency' choice relevant for the purpose of applying the Fringe Benefits Tax, Goods and Services Tax, Superannuation Guarantee Charge and Pay As You Go withholding provisions?

Income tax: if an 'attributable taxpayer' makes a choice under item 4 of the table in subsection 960-60(1) of Subdivision 960-D of the Income Tax Assessment Act 1997, to use the 'applicable functional currency', will this choice apply to its calculation of 'attribution surplus' under section 370 of Part X of the Income Tax Assessment Act 1936?

Income tax: can the head company of a consolidated group make a choice to use the 'applicable functional currency' under section 960-60 of the Income Tax Assessment Act 1997, where it is an Australian resident required to prepare financial reports under section 292 of the Corporations Act 2001?

Income tax: can a 'small proprietary company', not required to prepare reports under section 292 of the Corporations Act 2001, make a choice to use the 'applicable functional currency' under item 1 in the table in subsection 960-60(1) of the Income Tax Assessment Act 1997?

Income tax: is the 'applicable functional currency' for the head company of a consolidated group determined by looking at the 'accounts' of all the members of the consolidated group, for the purposes of item 1 of subsection 960-60(1) of the Income Tax Assessment Act 1997?