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HOW MANY FOREIGN EXCHANGE (FOREX) REALISATION EVENTS ARE THERE?

There are a total of five Forex realisation events which have been described in details below:

Forex realisation event 1
Forex realisation event 1 occurs when there is a disposal of foreign currency. As a taxpayer, you will make a Forex realisation gain when a foreign currency is disposed and a Forex realisation loss if foreign currency is disposed for less than what you have paid for them.

Forex realisation event 2
Forex realisation event 2 occurs when you cease or part of a right, to receive foreign currency. You make a forex realisation gain if the value of the foreign currency received when the event happens exceeds the amount you were entitled to receive, measured at the tax recognition time.

Forex realisation event 3
This event occurs when actual recipient of currency fulfils the obligation to receive foreign currency.

Forex realisation event 4
This event occurs when actual payment of currency has been made to fulfil the obligation.

Forex realisation event 5
Forex realisation event 5 occurs when a right to pay foreign currency includes a right to pay an amount of Australian currency that is calculated by reference to an exchange rate.