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 ruling.
FOI status:May be releasedFOI number: I 1011163
Notice of Withdrawal
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 The Foreign Tax Credit System contained in Division 18 of Part III of the Income Tax Assessment Act 1936 was repealed, by the Tax Laws Amendment (2007 Measures No. 4) Act 2007, with effect from 24 September 2007, applicable in relation to income years, statutory accounting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 www.ato.gov.au. See for example the Guide to Foreign Income Tax Offset rules 2008-09 NAT 72923.
Commissioner of Taxation
27 August 2014
You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
Date of effect:
foreign tax credit system
credit for foreign tax paid on foreign income
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).