Legislation

ITAA 1997 s 960-60(1) will only be effective however, if there is a currency other than Australian currency, in which it keeps its accounts at the time it makes this choice (refer to section 960-70

ATO documents that consider ITAA 1997 s 960-60(1) will only be effective however, if there is a currency other than Australian currency, in which it keeps its accounts at the time it makes this choice (refer to section 960-70

1 document

TD 2005/D35 (Finalised)replacedTD · 2005

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?