Is a foreign exchange loss from currency fluctuations tax deductible for business purposes?

 Author: Accountiful(Newbie)Newbie

11 May 2026

Hi everyone

I am seeking guidance on the tax treatment of a foreign exchange loss.

The matter relates to USD funds held in an overseas bank account. Due to the strengthening of the AUD, a loss was incurred when the remaining USD balance was converted back to AUD. Could you please advise whether this loss is tax deductible?

I greatly appreciate any insights from specialists or community members with experience in foreign exchange taxation.

Thank you

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