New South Wales Consolidated Acts

TAXATION ADMINISTRATION ACT 1996 - SECT 109

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 at the rate of exchange last reported by the Reserve Bank before the liability to pay the tax arose.

(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.