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  • Transitional rules



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Any excess amount of foreign tax that cannot be recouped as an offset in an income year cannot be carried forward (unlike the previous system of foreign tax credits). However, transitional rules enable a taxpayer with pre-existing excess foreign tax credits to use some of these amounts in certain circumstances.

      Last modified: 04 May 2012QC 28013