Guide to investment

Foreign investments

If you are an Australian resident with overseas assets you need to take any capital gains or capital losses you make on those assets into consideration when doing your tax return.

Additionally, if you have interests in a foreign company, a foreign trust or a foreign life insurance policy, you may have to include income you receive from these interests in your tax return.

If you receive foreign income that is taxable in Australia and you paid (or are taken to have paid) foreign tax for which you were personally liable on that income, you may be entitled to an Australian foreign income tax offset.

You may also be entitled to an Australian foreign income tax offset if you received income, or a profit or gain, from a source in an area covered by an international tax-sharing treaty (for example, the Joint Petroleum Development Area), to the extent that the income or profit or gain is taxed in Australia.

	For more information, refer to: Tax return supplementary instructions 20 - Foreign source income and foreign assets or property for how to show foreign income on your tax return Guide to foreign income tax offset rules.
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