Make sure to activate first the "Foreign" via "Manage section"
Select "Income" > "Foreign"
Scroll through item 20 "Other Foreign Source Income"
Once the "Exchange Rate" is entered, the "AUD Amount" tabs will be automatically calculated.
Foreign Income Tax Offset/Foreign Tax Paid
Foreign income tax offset is the sum of Foreign tax paid amounts from worksheets from Foreign section.
NOTE: If you are filling-up this "Other Foreign Income" schedule and need to also declare a Deductible Expense amount, then please ensure that you only fill-up one type of foreign income for each worksheet and its corresponding deductible expense figure, so that you can avoid the capture of deductible expenses amount. Currently, this is the proper procedure to fill-up this specific worksheet in our system. Currently, there are 3 foreign income types in this worksheet namely, "Foreign rental income", "Foreign financial investment" and Other foreign income".
- Below is a sample image showing only one income type "Other Foreign Income" in this worksheet:
- Below is another sample where only one foreign income type "Foreign Rental Income" has an amount with its related Deductible Expenses
It will then show via 20O
