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  • Converting foreign income to Australian dollars

    You must convert all foreign income, deductions and foreign tax paid into Australian dollars for tax purposes.

    There are 2 ways of doing this. Depending on your circumstances, you can use:

    Alternatively, use the Foreign income conversion calculator to convert foreign income into Australian dollars, using either a specific or an average rate of exchange for a range of countries.

    The government is continually reviewing international tax arrangements. For information on how potential international legislative changes may affect you, see New legislation.

    If you need help in applying this information to your own situation, contact us.

      Last modified: 09 Jun 2022QC 18372