Foreign income return form guide

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About this guide

Foreign income return form guide 2002-03

This publication is available free of charge from the Australian Taxation Office (ATO), which prohibits any party from selling it. Please get help from the ATO - the general enquiries number is 13 28 61 - or a tax adviser if you feel the publication does not fully cover your circumstances.

We regularly revise our publications to take account of changes to the law. Contact the ATO if you think this edition may not be the latest.

As part of our commitment to produce accurate publications, taxpayers will not be subject to penalties if it is demonstrated that they have based a tax claim on wrong information supplied by the ATO.


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The Editor

Public Assistance Branch

Australian Taxation Office

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Some abbreviations used in this publication


Australian Taxation Office


controlled foreign company


controlled foreign entity


controlled foreign partnership


controlled foreign trust


double taxation agreement


dividend withholding tax


eligible designated concession income


foreign investment fund


foreign tax credit


foreign tax credit system


net foreign income

P/ Y loss

previous years losses

The Act

Income Tax Assessment Act 1936


How to use the Foreign income return form guide

Each chapter of the Foreign income return form guide (the guide) contains an explanation of measures relating to the taxation of foreign income derived by, or attributed to, Australian residents. They are:

Chapter 1

Attribution of the current year profits of a controlled foreign company (CFC)

Chapter 2

Transferor trust and related measures

Chapter 3

Taxation of foreign dividends and branch profits and the foreign tax credit system

Chapter 4

Proving your assessment

Chapter 5

Consolidation (consolidated income tax treatment for groups of entities)

Summary sheets at the end of the guide provide a quick reference to assist you in determining if and to what extent the measures apply to you. Where necessary, worksheets have also been provided to help you work out your tax liability.

Although the guide is quite detailed, it may not cover all the qualifications and conditions contained in the law that relate to your circumstances. For instance, it does not discuss the special rules that apply in working out attributable income for companies conducting banking or insurance activities. If you are not sure about the application of the law, please contact the tax office where you lodge your tax return.

Unless otherwise stated, references in this guide to provisions of the law are to provisions of the Income Tax Assessment Act 1936 .

ATO references:
NO NAT 1840

Foreign income return form guide
  Date: Version:
You are here 1 July 2002 Original document
  1 July 2006 Updated document
  1 July 2007 Updated document
  1 July 2008 Updated document
  1 July 2009 Updated document
  1 July 2010 Updated document
  1 July 2011 Updated document
  1 July 2012 Updated document
  1 July 2013 Updated document
  1 July 2014 Updated document
  1 July 2015 Updated document
  1 July 2016 Updated document
  1 July 2017 Updated document
  1 July 2018 Current document

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