Calculation method

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End of attention

A foreign tax credit is allowable for taxpayers who use the calculation method to work out the amount of FIF income to include in their assessable income. However, it is limited to situations where:

• the FIF is a company which is related to a company taxpayer [sections 160AFCE and 160AFCF]
• the taxpayer is a beneficiary of a FIF which is a trust estate. [sections 160AFCG and 160AFCH]