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Sanjesh1(Initiate)Initiate
18 Mar 2021

Taxpayer worked in UK. Foreign income tax offset rules 2020 states you need to use the gross income received.

What happens the the tax free threshold amount? In UK 12500.00 pound is tax free. For example taxpayers earns 70000.00 pounds if he or she lodges their tax return it will be 70000.00 less 12500.00 hence tax is paid on 57500.00 pounds

In calculating the Foreign Tax Offset in Australia which amount is used 70000.00 pounds or 57500.00 pounds. Can any give me anys ideas on this please.

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729 views
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TonyATO(Community Support)Community Support
ATO Certified Response19 Mar 2021

Hello @Sanjesh1

The gross amount of income you received would be the 70,000 not 57,500. Just make sure you convert it to Australian dollars when completing your tax return.

Regards,

Tony

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Most helpful replyATO Certified Response

TonyATO(Community Support)Community Support
ATO Certified Response19 Mar 2021

Hello @Sanjesh1

The gross amount of income you received would be the 70,000 not 57,500. Just make sure you convert it to Australian dollars when completing your tax return.

Regards,

Tony

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