Creditable taxes are, broadly, foreign taxes which are equivalent in nature to Australian income tax - for example, a tax on net income or capital gains - including tax imposed on attributed income.
Designated concession income
Designated concession income is income or profits of a kind specified in the Income Tax Regulations. Broadly, it refers to income or profits that are subject to a tax concession in a listed country. Details of the specified types of income and profits are set out in appendix 1 of this guide.