The Australian Taxation Office (ATO) has published guidance on Monthly exchange rates for 1 July 2025 to 30 June 2026, including monthly rates for July 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 being included in a return. The rules generally require amounts to be converted at the exchange rate prevailing at the time of a transaction, or at an average rate…