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Re: Foreign Income Offset Limit

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Newbie

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Replies 2

Sorry new to this! I replied with my numbers in the other post on Sunday but no one seems tro be responding to my replies. I sent this one yesterday and also nothing: 

So based on what you sent me yesterday I'm still confused how you got these numbers:
$8,760.44 (Tax = $7,762.56 & ML = $997.88) and $5,617.08  (Tax = $4,801.41  & ML = $815.67)
I was hoping to see the individual workings so I could understand it for myself.


But based on what you worked out am I essentially just entering my overseas tax AS the offset?

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(1) I used the Foreign Income Conversion Calculator on the ATO website using the annaul average exchange rate.
(2) No I had no Canadian Deductions as I have not yet completed their 2019 Tax return and I had only worked for 1 month for their 2018 return.
(3) Yes my Canada work place employs alot of Australians and they asked us to do it.
(4) Yes I believe so.

Thanks for your help so far Macfanbuy, hopefully this response goes through!

1 ACCEPTED SOLUTION

Accepted Solutions
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Most helpful response

Community Manager

Replies 1

Hi @Kallan29,

 

To let another member know that you have answered them you need tag them in your query. You do this by putting @ in front of their user name, For example @KylieATO.

 

Checking out you our last post you were posting to @macfanboy.

 

Hope this helps.

 

Thanks

 

KylieS

2 REPLIES 2
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Most helpful response

Community Manager

Replies 1

Hi @Kallan29,

 

To let another member know that you have answered them you need tag them in your query. You do this by putting @ in front of their user name, For example @KylieATO.

 

Checking out you our last post you were posting to @macfanboy.

 

Hope this helps.

 

Thanks

 

KylieS

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Newbie

Replies 0

Ohhhh thankyou so much @KylieATO I clearly had no idea haha sorry @macfanboy ill tag you in my last post. Thanks guys