Foreign tax resident withholding tax on interest/franked dividends and carried over losses.

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(Initiate)Initiate

16 Sept 2024

As a foreign tax resident, I earned bank interest from which withholding tax has been held. I also have carried over non-primary production losses. Am I able to apply these losses against the tax withheld? If so, how do I do that on my tax return which directs me not to include interest on which tax has been withheld meaning that my taxable income shows as nil and hence there is nothing to apply the carried over losses against? Similarly, can I offset those losses against franked dividends? If the answers to both these questions are “no”, is the thing that unless I become in the future an Aussie tax resident again, the non-primary production losses are lost to me?

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