How do I make a gain or loss on my forex accounts?
Transactions on a forex account often result in forex realisation gains or losses being made. Examples of this include withdrawing money from a foreign currency savings account, or paying all, or part, of the balance of a foreign currency loan account. Forex accounts with a credit balance (ie deposit or savings account) A forex realisation gain or loss may arise on a forex account that has a credit balance at the time a withdrawal is made. This is due to fluctuations in exchange rates which may result in the Australian dollar value of amounts deposited into a forex account with a credit balance – measured at the time of the deposit – being more than or less than the Australian dollar value of that amount measured at the time of withdrawal. The difference is usually brought to account under the forex measures as assessable income if it is a gain, or an allowable deduction if it is a loss, to the extent that the gain or loss is due to currency exchange rate movements between the Australi
