Taxation Ruling

IT 2527W

Income tax : foreign tax credit system - procedures in relation to claims for foreign tax paid

  • Please note that the PDF version is the authorised version of this withdrawal notice.

FOI status:

May be releasedFOI number: I 1011163

Notice of Withdrawal

Taxation Ruling IT 2527 is withdrawn with effect from today.

1. Taxation Ruling IT 2527 sets out rules for foreign tax claimed as a credit to offset against Australian tax payable on the foreign income under the Foreign Tax Credit System.

2. The Foreign Tax Credit System contained in Division 18 of Part III of the Income Tax Assessment Act 1936 was repealed, by the Tax Laws Amendment (2007 Measures No. 4) Act 2007, with effect from 24 September 2007, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after 1 July 2008. The new Foreign Income Tax Offset system contained in Division 770 of the Income Tax Assessment Act 1997 applies from 1 July 2008, subject to transitional provisions.

3. Guidance on how the Foreign Income Tax Offset system operates is contained in publications on international tax, available on the Tax Office website at See for example the Guide to Foreign Income Tax Offset rules 2008-09 NAT 72923.

4. Accordingly, IT 2527 is no longer current and is therefore withdrawn.

Commissioner of Taxation
27 August 2014


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ATO references:
NO 1-4X21BLU

Date of effect:

Related Rulings/Determinations:

IT 2437
IT 2498
IT 2507
IT 2508
IT 2527
IT 2528
IT 2529

Subject References:
foreign tax credit system
credit for foreign tax paid on foreign income

Legislative References:
DIV 18
DIV 19