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How do you work out your foreign tax credit?

Last updated 16 March 2007

You will not be able to work out your foreign tax credit if you have shown exempt foreign employment income at N item 19 on your tax return.

The Australian Taxation Office (ATO) will work it out for you.

If this is the case, print Schedule of additional information-Question 19 on the top of a separate piece of paper and explain your situation. Include your name, address, tax file number, each type and amount of foreign income received and any foreign tax paid. Print X in the Yes box at Taxpayer's declaration question 2a on page 8 of your tax return. Sign and attach your schedule to page 3 of your tax return. If you have no capital gain or no exempt foreign employment income, work through the following steps to find out your foreign tax credit. A practical example follows step 8.

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