Tax return questions - UK dividends
Jul 18th 2009, 9:51 pm
#1
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Tax return questions - UK dividends
I thought I'd follow the trend and start another tax thread. 
UK share dividends come with a 10% tax paid credit. Can this be included as an imputation (franking) credit on the Aussie tax return?
UK share dividends come with a 10% tax paid credit. Can this be included as an imputation (franking) credit on the Aussie tax return?
Jul 19th 2009, 2:58 am
#2
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Re: Tax return questions - UK dividends
You need to convert the amount into Aus $$$ using the ATO's exchange rates, which you can look at here: http://www.ato.gov.au/taxprofessiona...tent/51603.htm
Jul 19th 2009, 7:07 am
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Re: Tax return questions - UK dividends
If you look at the tax return form, you put your foreign tax paid in the box under 20O (that is section twenty box with the letter O). [As long as your foreign tax is under $1,000. If it's over $1,000 it gets a bit more complicated - too complicated to explain here quickly.]
You need to convert the amount into Aus $$$ using the ATO's exchange rates, which you can look at here: http://www.ato.gov.au/taxprofessiona...tent/51603.htm
You need to convert the amount into Aus $$$ using the ATO's exchange rates, which you can look at here: http://www.ato.gov.au/taxprofessiona...tent/51603.htm
Thanks muchly. I've sent some karma.
