Legislation

ITAA 1997 s 960-85 stipulates a two step translation process - for all post 30 June 2003 amounts where a previous functional currency choice has not been made, the first step of the two step translation process under section 960-85 will have, in effect, already taken place under section 960-50 of Subdivision 960-C

ATO documents that consider ITAA 1997 s 960-85 stipulates a two step translation process - for all post 30 June 2003 amounts where a previous functional currency choice has not been made, the first step of the two step translation process under section 960-85 will have, in effect, already taken place under section 960-50 of Subdivision 960-C