About this worksheet

These tables are used to convert foreign currency amounts to New Zealand dollar values, depending on currency value each month.

Microsoft WordRich Text Format (RTF) | 145kb | 2 pages

When to use this worksheet

Use this table for converting foreign currency amounts to New Zealand dollars for:

• Items "a" (market value of the FIF interest on the last day of the income year) and "c" (market value of the FIF interest on the last day of the preceding income year) of the comparative value formula under section EX 44(1) of the Income Tax Act 2004.
• Foreign tax credits paid on the last day of any month calculated under the branch equivalent method for a CFC or FIF under section LC 4(1)(a) of the Income Tax Act 2004.
• FIF income or loss calculated under the accounting profits, comparative value or deemed rate of return methods under section EX 42(7), EX 44(7) and EX 45(15) of the Income Tax Act 2004. (Use Table B if it applies, otherwise use Table A).

What you will need

You will need to work out what month/s that the foreign income is attributed to.

This document is provided in Microsoft Word RTF format. This file should open with a range of word processors. MS Word Reader software is also available from Microsoft.

After you finish

You may wish to print and keep a copy of this worksheet for your records.

For best results set your printer to landscape/horizontal format.