Loading
MichaelBieth(Newbie)Newbie
10 May 2026

Hello everyone


Im working through a tax return for a client who runs a new travel service business based in australia.


When exchanging currency held in a business USD account to she had a loss of 816. Is this deductible under section 8-1 of the ITAA 1997.

Thank you

21 views
1 replies
21 views
1 replies

Featured articles

Setting up an ATO payment plan

5 Nov 2025 · 6 min read time

Tax tips for social media influencers and content creators

22 Apr 2024 · 3 min read time

Tax tips for managing your side hustle

22 Apr 2024 · 6 min read time

Top liked users

  1. Taxduck

    (Taxicorn)

    344 likes

  2. PayrollDeanne

    (Taxicorn)

    323 likes

  3. Bruce4Tax

    (Taxicorn)

    169 likes

  4. YellowPotato

    (Taxicorn)

    152 likes

  5. Peter_Clyne

    (Superuser)

    99 likes

Top contributors

  1. Taxduck

    (Taxicorn)

    1335contributions

  2. PayrollDeanne

    (Taxicorn)

    1277contributions

  3. YellowPotato

    (Taxicorn)

    596contributions

  4. Bruce4Tax

    (Taxicorn)

    457contributions

  5. YEP

    (Devotee)

    280contributions

Loading
is a foreign exchange loss from a USD account to AUD account tax deductible? | ATO Community