Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person's assessed worldwide income for an * income year is an amount equal to the sum of:
(a) the person's * repayment income for the income year; and
(b) the person's foreign - sourced income for the income year, converted into Australian currency.
(2) The Overseas Debtors Repayment Guidelines may provide for how to work out a person's foreign - sourced income for an * income year, including how to convert it into Australian currency.
(3) Without limiting subsection (2), the Overseas Debtors Repayment Guidelines may provide for a person's foreign - sourced income for an income year to be worked out in relation to a period that does not correspond to that * income year.