Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purpose of determining, under Subdivision BA of Division 7 of Part 5 of the Act, an amount of income expressed in foreign currency to be a person's overseas income, the Registrar must convert the amount into an equivalent amount in Australian currency.
(2) The amount must be worked out in accordance with:
(a) the average exchange rate for the foreign currency for the financial year in which the income was derived, being the average of the telegraphic transfer rates published by the Commonwealth Bank of Australia for that currency for that financial year; or
(b) if no such rate is available for the foreign currency for that financial year -- an exchange rate for the foreign currency that the Registrar considers appropriate.