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| ATO Foreign Exchange Rates |
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ATO Foreign Exchange Rates
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| Are you? |
- A taxpayer in receipt of income from a foreign country? |
| At a glance: |
- Every month, the Tax Office releases a list of foreign exchange rates which can be used to convert foreign income into Australian dollars. |
| You should: |
- Ensure the income you receive is correctly converted using rates provided by the ATO.
- Contact us if you require any clarification or advice. |
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| 1. |
All foreign income, deductions and foreign tax paid must be converted to Australian dollars before it can be included in a taxpayer's income tax return.
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| 2. |
The amounts must be converted using the exchange rate on the date of the transaction or an average rate for the month.
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| 3. |
The schedules published by the Tax Office provide daily and monthly exchange rates for a range of countries from July 1, 2002 to September 30, 2009.
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| 4. |
The schedules are updated at the end of each month.
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| 5. |
To view the Tax Office foreign exchange rate schedules, click here, or visit the ATO website at http://www.ato.com.au.
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