AJinOZ Posted September 14, 2023 Share Posted September 14, 2023 We sold our UK rental property and paid our CGT tax in the UK and had a tax agent calculating our capital gains for our Oz tax return. We filled this all in on the ATO online Mytax site, but are now at a loss as to where to record the UK tax we had paid. It is already adjusted ( we can only claim 50%) and below $1000. Our tax agent said to put it into box 20 O on the paperform, but no one including the ATO hotline seems to know where to record it in the online version. I came up with the idea to record it under "foreign income" - "other income", label it UK TAX CAPITAL GAINS but write in the gross income box 0$ (as the income is already recorded in the Capital gains section) and then record the actual UK tax in the foreign income tax box that is underneath. Does anyone know whether this is correct or is there another way? Quote Link to comment Share on other sites More sharing options...
Ken Posted September 14, 2023 Share Posted September 14, 2023 1 hour ago, AJinOZ said: We sold our UK rental property and paid our CGT tax in the UK and had a tax agent calculating our capital gains for our Oz tax return. We filled this all in on the ATO online Mytax site, but are now at a loss as to where to record the UK tax we had paid. It is already adjusted ( we can only claim 50%) and below $1000. Our tax agent said to put it into box 20 O on the paperform, but no one including the ATO hotline seems to know where to record it in the online version. I came up with the idea to record it under "foreign income" - "other income", label it UK TAX CAPITAL GAINS but write in the gross income box 0$ (as the income is already recorded in the Capital gains section) and then record the actual UK tax in the foreign income tax box that is underneath. Does anyone know whether this is correct or is there another way? Yes, that's how you have to do it on the software I use as well. I'm somewhat mystified as to why you say "Our tax agent" but are using the Mytax site. If you file using Mytax then you don't have a tax agent. Quote Link to comment Share on other sites More sharing options...
AJinOZ Posted September 14, 2023 Author Share Posted September 14, 2023 Thank you. We had agreed that they only do the CGT calculations but not the actual return. Quote Link to comment Share on other sites More sharing options...
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