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Australian Apprenticeship Support Loans Rules 2023
23Converting foreign-sourced income into Australian currency
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23 Converting foreign-sourced income into Australian currency
This section applies to a person’s foreign-sourced income for an income year where an amount of that foreign-sourced income is in a foreign currency. For the purposes of subsection 47B(2), to convert the foreign currency amount, translate that amount to Australian currency at the average exchange rate for the financial year that most closely corresponds to the income year in which the foreign currency amount was received.