Claiming foreign income tax offset

The speculation over Australian economic downturn and rising unemployment has motivated trustees to invest overseas. When an SMSF pays foreign tax on foreign income, foreign tax credits can be claimed on that income according to Section 770.75 of the Income Tax...

Foreign income tax offset

A taxpayer is entitled to a non-refundable Foreign Income Tax Offset if their assessable income includes foreign income in respect of which the taxpayer has paid foreign income tax. Unlike imputations credits, foreign tax is paid to a country other than Australia and...

Spouse super contribution tax offset

You may be able to claim an 18% tax offset on super contributions of up to $3,000 you make on behalf of your non-working or low-income-earning spouse to a: Complying super fund Retirement savings account (RSA). Contributions you make on behalf of your eligible spouse...