The ATO has updated its foreign exchange rate guidance, including monthly exchange rates for 1 July 2025 to 30 June 2026.
The Australian Taxation Office (ATO) has released guidance on monthly exchange rates for the period from 1 July 2025 to 30 June 2026 on 4 August 2025, including the foreign exchange rates applicable for July 2025.
As per the guidance, all foreign income, deductions, and foreign tax paid must be converted to Australian dollars before being included in a tax return.
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