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Non-Resident Withholding Tax

Discussion in 'Accounting & Tax' started by MelbourneStephen, 8th Jul, 2016.

  1. MelbourneStephen

    MelbourneStephen Member

    Joined:
    12th Aug, 2015
    Posts:
    12
    Location:
    Melbourne
    Hi forum members, I own a small number of ResMed shares and have just received a dividend payment and statement. The US denominated dividend of $21.00 had a $3.15 Non-Resident Withholding tax deducted in US dollars before ResMed converted the remaining balance of my US$17.85 dividend into $24.70 Australian dollars before paying the dividend into my Australian bank account.

    Question 1. On my Australian Tax return, is this payment a Franked or a Non-Franked dividend to me? The statement does not show any amounts as franked or non franked like local Aussie based share dividend statements usually do.

    Question 2. Can I legally clam the US$3.15 Non-Resident Withholding Tax portion deducted on my Australian Income Tax return or not?
     
  2. Casteller

    Casteller Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    344
    Location:
    Barcelona
    Non franked, other countries don´t have (or recognize) franking.
    Yes the 15% foreign tax paid credited somewhere.
     
  3. MelbourneStephen

    MelbourneStephen Member

    Joined:
    12th Aug, 2015
    Posts:
    12
    Location:
    Melbourne
    Thanks :)
     
  4. craigc

    craigc Active Member

    Joined:
    25th Jun, 2016
    Posts:
    38
    Location:
    Melbourne
    +1