Hello, I am getting taxed 15% on US share dividends I receive and can't seem to find how to deduct this amount in my Tax Return. My understanding is that I should be able to deduct these foreign taxes already paid so I don't get taxed twice.
However, I just noticed that the total under "Other foreign income" remains the same whether even when I include an amount under "Foreign Tax Paid". No deduction is made so I'm not sure why it's even asked. There is a section in Offsets for Foreign income tax offset appears to only apply to small businesses. I'm just an individual getting dividends on shares from companies based abroad.
So, does anyone know how to apply this offset? Do I simply deduct the US WHT from the dividend amount I report?
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3,713 views
2 replies