If you paid foreign tax on income you received from outside Australia, you may be entitled to a foreign tax credit.
This guide shows you how to work out your foreign tax credit if you:
- paid foreign tax on income you received from outside Australia, and
- intend to use TaxPack 2008 to fill in your tax return.
This guide applies only to the year ending 30 June 2008.
New rules apply for income years commencing on or after 1 July 2008. For more information about the new rules, refer to Changes to foreign loss quarantining and foreign tax credit calculation rules - Update October 2008.
Who should use this guide?
This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
End of attention
Use this guide if you are an Australian resident individual taxpayer and you paid foreign tax on income you received from outside Australia.
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Last modified: 28 Oct 2008QC 27910