Which of the following is not true in relation to the operation of the withholding tax rules? A) The maximum a taxpayer can claim as a foreign tax credit offset is the Australian tax payable on that income B) Include both the income and the withholding taxpaid in their assessable income C) Claim the greater of the Australian tax payable or the foreign tax paid on the foreign income D) Claim the withholding tax paid as a foreign tax credit offset

Question

Quizplus · Accepted Answer

The taxpayer can only claim the lesser of the Australian tax payable or the foreign tax paid, not the greater.

Which of the Following Is not True in Relation to the Operation