$AU Conversion Rates for Jan Feb 2010

If you are an Australian resident (for tax purposes) and you earn income from over seas (eg investment income, pension income or business incme), you will need to convert the income to $AU. In doing so, taxpayers can use the average conversion rate applicable for that financial year. The following table is a summary of the average conversion rates for January and February 2010.

All foreign income, deductions and foreign tax paid must be translated (converted) to Australian dollars before including it in your return. From 1 July 2003, there are specific rules which tell you which exchange rate to use to convert these amounts. Generally, these require amounts to be converted at the exchange rate prevailing at the time of a transaction, or at an average rate.

2010 – January, February, March
Foreign currency equivalent to $1 Aust.
monthly averages
Country
January 2010
February 2010
March 2010
 
Average
Quotes
Average
Quotes
Average
Quotes
Canada
0.9795
19
0.9639
20
   
Denmark
4.8484
19
4.9119
20
   
Europe
0.6576
19
0.6660
20
   
Fiji
1.8081
19
1.7898
20
   
Hong Kong
7.2399
19
7.0317
20
   
India
43.0236
19
42.0816
20
   
Japan
86.4495
19
83.0620
20
   
Kuwait
0.2692
19
0.2626
20
   
New Cal/Tahiti
78.1074
19
79.0820
20
   
New Zealand
1.2859
19
1.3006
20
   
Norway
5.3475
19
5.3567
20
   
PNG
2.7923
19
2.7147
20
   
Philippines
43.6126
19
42.6345
20
   
Singapore
1.3173
19
1.2929
20
   
Solomon Islands
7.8484
19
7.5968
20
   
South Africa
7.0655
19
7.0461
20
   
Sri Lanka
107.4105
19
104.4320
20
   
Sweden
6.6449
19
6.5776
20
   
Switzerland
0.9667
19
0.9727
20
   
Thailand
30.8116
19
29.9490
20
   
UK
0.5833
19
0.5839
20
   
USA
0.9400
19
0.9126
20
   
Vanuatu
95.3079
19
94.6695
20
   

Copyright 2014. My Tax Zone.