Page 83 - P6 Slide Taxation - Lecture Day 4
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22.2.4. CALCULATION OF EXCHANGE DIFFERENCES [s 24I(1)]
Foreign exchange gain/loss =
Amount of the relevant exchange item
multiplied by
difference between the ruling exchange rates
on the different dates
Four possible situations may occur, namely:
1. acquired and realised 2. Acquired but not realised
during the current yoa during the current yoa
3. acquired in earlier yoa and 4. acquired in earlier yoa but not
realised during current yoa realised during the current yoa
