13Conversion into Australian dollars of amounts expressed in foreign currency

13 Conversion into Australian dollars of amounts expressed in foreign currency

For the purposes of paragraph 8(2)(d) and subsections 10(3) and (5), if either of the following is expressed in a foreign currency: (a) an amount indicated in a contract of sale as the sale price; (b) an amount incurred under a contract of sale in respect of a cost of a type referred to in paragraph 12(1)(a); the exchange rate to convert that amount into Australian dollars is: (c) if the Reserve Bank quotes a mid‑rate for the foreign currency for the due date for payment of the sale price under that contract—that mid‑rate; or (d) otherwise—the mid‑rate quoted by the Reserve Bank for that currency for the most recent day before that due date.