Over-Claiming Foreign Tax Offsets
The recent refusal by the High Court for special leave for the appeal of the Full Federal Court decision on Burton v FCT sends a very strong message on the correct calculation of the Foreign Tax Income Offset. We expect the ATO will be going through past returns to look for audit / adjustment opportunities. Watch this video to find out what you need to do!
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Useful links:
Burton's Case: https://jade.io/article/658900
Find out more about the Finerds here: http://www.finerds.com.au/
What you should know about this video: http://www.finerds.com.au/disclaimer/