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Submission by the Institute of Chartered Accountants in Australia, CPA Australia, The Taxation Institute of Australia, Taxpayers Australia Inc. and The National Institute of Accountants. Goods & Services Taxation Ruling GSTR 2000/D15 Goods and Services Tax: foreign exchange rates that work out the conversion for a taxable supply. Background to ruling Section 9-85(1) of the A New Tax System (Goods and Services Tax) Act 1999 (the GST Act) requires the value of a taxable supply to be expressed in Australian currency. Section 9-85(2)provides that any amount of consideration expressed in a currency other than Australian currency is to be treated as if it were an amount of Australian currency worked out in the manner determined by the Commissioner
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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We've made some changes to our website. You will need to reset your password to access your account, access online books, purchase items from our online shop, or download papers from the Tax Knowledge eXchange.
To reset your password, click on 'Reset password' below.