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RE: using the currency rate for the working month or the date that received payment?
Yes I think I use the cash basis but just want to confirm the definition of cash basis if there is any? Also, the paid date of my March consultant fee is 6th Apr 2023. Should I include this in the next tax year, i.e. 2023-2024? Thanks. -
time deposit
1. I had a fixed time deopsit (one month deposit) in AUD. I paid in May 2022 but get paid in Jul 2022. Which month rate of AUD should I use please? 2. I have a fixed time deopsit (6 months deposit) in AUD. I paid in Feb 2023 and expect to get back in Aug 2023. Do I need to include this income in tax year 2022-2023 please? Thanks a lot. -
using the currency rate for the working month or the date that received payment?
Hello, Let say I am self employed for August 2022 and I received the consultant fee in other currency at early September. Should I use the August or September rate please?