Can I get a refund on withholding tax from a dividend? | ATO Community

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(Newbie)Newbie

28 June 2023

Hello.

In September 2022, I had over US$1500.00 resident withholding tax applied by my share registry on the sale of some shares. The share registry had not transferred my TFN from one set of records to another. That issue is now fixed.

My question is: can I get a refund back , and if yes, how do I go about that?

I do not fit any of the (pension-like) criteria on the ATO form (NAT 1846). Can I address this in my 2022-23 tax return, and if yes, in which section?

Many thanks.

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(Taxicorn)Taxicorn

29 June 2023

If deducted by registry in USA - That is a foreign tax credit (FTC).

FTC is not a refundable credit, but can reduce tax on foreign income - Formula needs to be used for FTC over $ 1000.

If deducted by registry in AUS - That is TFN tax claimable at item 10 or 11.

Best to go to a tax agent if you are not sure what to do.

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Most helpful reply

(Taxicorn)Taxicorn

29 June 2023

If deducted by registry in USA - That is a foreign tax credit (FTC).

FTC is not a refundable credit, but can reduce tax on foreign income - Formula needs to be used for FTC over $ 1000.

If deducted by registry in AUS - That is TFN tax claimable at item 10 or 11.

Best to go to a tax agent if you are not sure what to do.

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(Newbie)Newbie

1 July 2023

Thank you.

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Liked by Bruce4Tax

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Can I get a refund on withholding tax from a dividend? | ATO Community