Depending on the type of foreign income, foreign withholding taxes, typically between 10 per cent and 30 per cent, may apply. Income paid to the Cash Account/Cash Hub will be net of any foreign taxes withheld. Refer to Tax resources and guides for more information.
Wrap is not currently in a position to apply for any reduction in withholding tax rates available under a double tax agreement.
For international listed securities:
Investors should seek independent taxation advice in relation to the treatment of foreign exchange gains and losses. Refer to Tax resources and guides for more information.
Certain Product Issuers may distribute FITOs on foreign capital gains as well as foreign source income. We report all FITOs distributed on foreign source income and foreign capital gains in column T35 of the Detailed Report in the Tax Report.
Where the Product Issuer provides a split of FITOs paid on foreign capital gains and foreign source income, we'll provide this information as a note on the Tax Report. In reporting these amounts we make no determination about investors’ eligibility to claim FITOs.
Investors should always seek independent advice from their Tax Agent to determine their eligibility to claim FITOs.
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