au-foreign-income

Use this skill whenever asked about how Australian tax residents are taxed on foreign income -- the worldwide assessable income rule, the foreign income tax offset (FITO) and its offset limit, foreign employment income and the narrowed section 23AG exemption, foreign rental/business/investment income, foreign capital gains and Division 775 forex gains, foreign pensions (UK/US), temporary residents under Subdiv 768-R, overseas HELP debtor worldwide income reporting, return labels 20/20M/20O, currency conversion, and record keeping. Trigger on "foreign income", "overseas income", "FITO", "foreign tax credit", "double tax", "UK pension", "Wise income", "foreign rental", or any GL showing offshore receipts.

License

AGPL-3.0-or-later (code) / OpenAccountants Guide License v1.0 (content)