Claiming Foreign Tax Credits for Superannuation Fund (Prior 2008)

Artcore

看看这里面的例子计算得对不对?

Xavier

Artcore, the calculation in the PDF document seems to be right. I wouldn’t be too fussy about this foreign tax credit calculation simply because the cost incurred in calculating this credit is far greater than the benefits obtained. An average SMSF with a balance of between $500,000 and $2,000,000 will only have foreign tax credits under $500.00 unless the fund has invested heavily in manage funds. But this seems not to be the case in my opinion.  Sometimes we just need to forgo this credit if it gets into the issue of non compliance (i.e. overclaiming the credit).

The Foreign Tax Credit System is one of the most complex areas in the tax system. The calculation used in the document only outlines the basic rules, as the global credit crisis continued we will see more issues within the Foreign Tax Credit System such as ordering of offset of capital losses against capital gains when we prepare the SMSF returns in the future. However, as the new rules came in effect from 1 July 2008, hopefully it will reduce the cost of compliance.

[ 本帖最后由 Xavier 于 2009-1-11 00:25 编辑 ]