109Valuation of foreign currency

#### 109 Valuation of foreign currency 109 Valuation of foreign currency > > (1) If an amount involved in the calculation of tax is not in Australian currency, the amount is to be converted to Australian currency— > > > > > (a) at the rate of exchange last reported by the Reserve Bank before the liability to pay the tax arose, or > > > > > (b) at a rate of exchange determined by the Chief Commissioner. > > > (2) This section is subject to a provision of another taxation law governing the calculation of tax where an amount involved in the calculation is not in Australian currency. > > **s 109:** Am 2024 No 90, Sch 8\[9\].