Acounting for your offshore income
There are new tax rules for offshore portfolio investments effective for income years beginning on or after 1 April 2007 that may change the usual way you account for offshore income.
In the past dividend income was usually counted on a cash/receipts basis for individuals. The new tax rules introduce the fair dividend rate method of calculating, on an annual basis, income from holding offshore investment.
Find out about:
- when the new rules apply
- the Australian share exemption
- other temporary exemptions for specific investments
- the effect of exemptions on investors.
Find out more
Date published: 30 Nov 2007
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