Socials

Socials

Taxation Determination 2020/07

The Commissioner has finalised the ATO’s view in Taxation Determination 2020/7 confirming that capital gains are not included when calculating the Foreign Income Tax Offset (FITO) limit. Application of the law The FITO limit is determined by section 770-70 of the ITAA 1997, requiring a comparison between Australian tax payable and Australian tax that would be […]