You're not going to get the job done with the Wolfson card I'm afraid. It has a SPDIF digital in, and line and mic level 3.5mm jack analogue ins, but no toslink ins.
The only device I could find with an even halfway verified toslink input is the Tinytoslink board. The product description claims (emphasis mine):
Hardware can also be modified to an optical input or S/PDIF in-/output
with RCA plugs (no software for input tried yet)
There's a fairly lengthy raspberrypi.org forum post that includes some discussion on the specifics of turning the Tinytoslink into an input rather than an output. I'm not sure anyone in there actually posted a fully confirmed 'yes, I made this work as an input', so I'd suggest asking around there and confirming that it'll definitely work before purchasing.
If you're feeling adventurous with your budget you could experiment with el cheapo USB audio interfaces as discussed in this thread on the raspberrypi.org forums. I'm not entirely sure whether he got anywhere either, but the box is only about £8 on Ebay. Might be worth a punt.
If you can persuade the audio into the Pi there are a gazillion ways to stream it back out again - UV4l, ffmpeg, avconv, etc., etc., etc.