The Australian Taxation Office (ATO) has updated its guidance on Foreign exchange rates with the addition of Rates for financial year ending 30 June 2025. Monthly exchange rates for 1 July 2024 to 30 June 2025 have also been updated, including the addition of rates for June 2025. As explained in the main guidance on Foreign exchange rates, all foreign income, deductions, and foreign tax paid must be translated (converted) to Australian dollars before including it in a return. The rules gen…