Foreign income for family assistance purposes

Foreign income can affect how much Family Tax Benefit and Child Care Benefit you are eligible for.

Your estimate

When you give us a family income estimate for Family Tax Benefit and Child Care Benefit, we will ask you how much foreign income you expect to receive in the financial year.

Your estimate must be in Australian dollars and cover the Australian financial year, which runs from 1 July to 30 June. We include your foreign income amount when we calculate your adjusted taxable income.

What we count as foreign income

We consider foreign income to be any income you and your partner earn, or get from outside Australia for which you don’t pay Australian tax.

This may include:

  • foreign employment income that isn’t taxable in Australia
  • overseas pensions
  • gifts or allowances of money you get regularly from overseas, including money or gifts from relatives living overseas, which are exempt from Australian tax, and
  • income from foreign business interests or investments which are exempt from Australian tax

What may be different

If your foreign income is taxable in Australia, you should include it as part of your taxable income when you provide your family income estimate.

What we don’t count

We don’t count your foreign income if you can’t access it within Australia. You don’t need to include it in your family income estimate.

What may be different

If you visit the country where you can access your foreign income, we’ll need to reassess your family assistance.

If you’re not sure

If you’re not sure if your foreign income is taxable in Australia, contact the Australian Taxation Office via their website.

Exchange rates

For family assistance purposes, we use the exchange rate from 1 July each year when assessing your income for that financial year.

Exchange rates for 2016-17

We’ll use the 1 July 2016 exchange rates below for the 2016-17 Australian financial year.

Currency Rate
Canadian Dollar 1.0012
Danish Kroner 5.3407
English Pound 0.5860
European Currency Unit 0.7050
Hong Kong Dollar 6.1075
Japanese Yen 82.6000
New Zealand Dollar 1.0853
Norwegian Kroner 6.7784
Singapore Dollar 1.0667
South African Rand 11.4056
Swedish Kronor 6.7142
Swiss Franc 0.7867
Thai Baht 27.6300
US Dollar 0.7810

If you need the rate for a currency that we don't list above, call the families line.

Other payments

We assess income from outside Australia differently for our other payments and services.

Page last updated: 1 June 2017