average yearly RBNZ rate, in relation to a conversion day, means the average Reserve Bank of New Zealand rate (expressed in a unit of Australian currency per New Zealand dollar) for the financial year in which the conversion day occurs and which is published on the Australian Taxation Office website (www.ato.gov.au).
(a)the day on which a New Zealand participant receives any consideration for the supply of wine; and
(b)the day on which the New Zealand participant issues an invoice for the supply of wine.
foreign currency component, in relation to wine sold by a New Zealand participant, means a component used to determine the approved selling price for the wine where the component is expressed in a currency other than Australian currency.
RBA means Reserve Bank of Australia (within the meaning of the Reserve Bank Act 1959).
RBA business day means a day that the head office of the RBA is open for business.
RBA rate, in relation to a conversion day, means the exchange rate (expressed in a unit of foreign currency per Australian dollar) that is published by the RBA on its website (www.rba.gov.au) for the day that is:
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
(1)A New Zealand participant must use one of the methods in subsection 7(1) or (2) for an entire financial year to work out the amount of Australian currency that a foreign currency component is to be treated as on a conversion day.
(2)For the purposes of subsection (1), the method that applies on a conversion day is the method that has been chosen for the financial year in which the entitlement to the producer rebate arises under subsection 19-5(2) of the Act (and not the financial year in which the conversion day occurs).
(1)If a New Zealand participant uses the average yearly RBNZ rate on a conversion day and the foreign currency component is expressed in New Zealand currency, the component is to be treated as if it were an amount of Australian currency on that day by using the following formula:
(2)If a New Zealand participant uses the RBA rate on a conversion day, the foreign currency component is to be treated as if it were an amount of Australian currency on that day by using the following formula: