C1 Credit: Foreign tax credit

Write at C1 the self-determined amount that is the lesser of:

• the foreign tax paid (or taken to have been paid), and
• the Australian tax payable.

To calculate a foreign tax credit, see:

• the Foreign income return form guide, and
• How to claim a foreign tax credit 2008 (NAT 2338).

If the fund received franked distributions directly or indirectly from a New Zealand franking company, see Trans-Tasman imputation.