I'm on a 457 visa, getting LAFHA and rental allowance. I'm about to get a retention bonus from head office in Europe, an amount in euros. With the bonus, I will pay off some loans in Europe, so I'd like to keep it all in euros. I prefer not to have to deal with the local tax office at home as I closed all that off last year, so does anybody know what the best way is to get a payment on a European account (gross?) paying the tax here to ATO later this year?

This is a technical issue involving a consideration of tax in the source country as well as Australia.

As such I think it unlikely you will find an answer on a general discussion forum, and will more probably have to engage a professional tax advisor to assist with your personal tax.

Best regards.