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QUESTION 8 Aperture Pty Ltd is an Australian resident company for tax purposes. The following details relate to the year ended 30 June 2020: $24,000
QUESTION 8
Aperture Pty Ltd is an Australian resident company for tax purposes. The following details relate to the year ended 30 June 2020:
- $24,000 interest income from Avalon (a non-treaty country). This amount is net of $6,000 withholding tax.
- $50,000 business income
- $2,000 in business related deductions
- $20,000 Interest from SouthPac bank an Australian bank.
- $14,000 fully franked dividend from Aus Co Pty, a non base-rate entity
Assume Aperture Pty Ltd is not a base-rate entity.
REQUIRED
What Foreign Income Tax Offset (FITO) is available to Aperture Pty Ltd?
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