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Foreign income conversion calculator
Our calculator takes between 2 and 5 minutes to use.
What you can do with this calculator
This calculator will convert your foreign income into Australian dollars, using either a specific or an average rate of exchange for a range of countries. It can be used for the 2013–14 to 2023–24 income years.
The calculator results are based on the information you provide at the time of calculation. You should use these results as an estimate and for guidance purposes only.
This calculator doesn’t determine your eligibility to a deduction.
If your rate of exchange of the country where you earned the foreign income is not listed in the calculator, you may use another exchange rate. For example, from a bank, to calculate the amount to declare.
The calculator can use either:
- the annual average rate of exchange for a range of countries
- the conversion rate you provide.
To understand your tax situation you will need to work out if you are an Australian or foreign resident for tax purposes.
From 1 January 2020, we use exchange rates supplied from the Reserve Bank of Australia.
Study or training support loans
If you have a study or training support loan debt you need to report the income you earn outside of Australia, even if you are not an Australian resident for tax purposes.
For more information, see Overseas obligations when repaying loans.
What you will need
- Details of your foreign income amount and which country the foreign income was earnt or paid.
- To keep a copy of the rate you use with your records.
Limitations
You can't use this calculator if:
- you are an early balancer operating on a substituted accounting period
- you receive foreign income from business activities
- you are a bank or similar financial institution.
However, you can still use this calculator if you are an Australian who is not permanently living in Australia and have a study or training support loan debt and earning foreign income.
What else you can do
Find out more about converting foreign income to Australian dollars.