Family Tax Benefit

Foreign income for family assistance purposes

Foreign income can affect how much Family Tax Benefit and Child Care Subsidy you can get.

Your estimate

When you give us a family income estimate for Family Tax Benefit and Child Care Subsidy, we will ask you how much foreign income you expect to get 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.

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.

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 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 2018-19

We’ll use the 1 July 2018 exchange rates below for the 2018-19 Australian financial year.

Currency Rate
Canadian Dollar 1.0172
Danish Kroner 5.0916
English Pound 0.5936
European Currency Unit 0.6726
Hong Kong Dollar 6.0979
Japanese Yen 86.9800
New Zealand Dollar 1.1323
Norwegian Kroner 6.5407
Singapore Dollar 1.0675
South African Rand 10.5727
Swedish Kronor 7.0199
Swiss Franc 0.8245
Thai Baht 25.9600
US Dollar 0.7832

Exchange rates for 2017-18

We’ll use the 1 July 2017 exchange rates below for the 2017-18 Australian financial year.

Currency Rate
Canadian Dollar 1.0416
Danish Kroner 5.3458
English Pound 0.6220
European Currency Unit 0.7085
Hong Kong Dollar 6.3193
Japanese Yen 91.8900
New Zealand Dollar 1.0969
Norwegian Kroner 6.9658
Singapore Dollar 1.1236
South African Rand 10.3408
Swedish Kronor 6.9033
Swiss Franc 0.8252
Thai Baht 27.6500
US Dollar 0.8159

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

Other payments

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

Page last updated: 13 July 2018