Tax wise, lower Australian dollar exchange rate will benefit both Australian tax payers’ foreign income as well as tax deductible foreign expenses.
When you have foreign investment such as bank interest earned from UK, though you may earned same amount Pound Sterling in 2015 as in 2014, say 10,000 GBP, when it is converted into Australia dollar, in year 2015 you get AUD $1,118.00 more in 2015 than in 2014, i.e. extra 6.566% earning point.
When you have tax deductible foreign expenses, say foreign rental expenses, like bank interest, Repair and Maintenance, real estate agent fee etc total of 10,000 GBP, when they are converted into Australian dollars, you will get $1,118.00 extra more tax deductions in 2015 than in 2014 in your Australian income tax return, while in reality 10,000 GBP spend in 2014 are the same as 10,000 BGP spent in year 2015, but you get $1,118.00 extra tax deduction.
To be short, investors can be benefit while exchange rate fluctuate, and there are various investments, like bank deposit, investment property, cash management fund, and even operate your own business.