If you have the AUD value (ie drawn from a local account) then use that since its known. If not use monthly average (ie drawn from a UK account). If its a stream for example lets assume for a second the PM could generate a P&L for the rental income and costs that is for the year ended 30 June...
The exchange rate translation rules are fairly straight forward and not a serious concern where you may slightly depart provided intent isn't to cause harm or avoid tax etc and simply put:
1. Where a AUD / Foreign rate exchange is made use the actual rate where possible (ie using an AUS card...
