Claiming foreign pensions or annuities on Item 20 Worksheet
To claim foreign pensions or annuities using the Item 20 Worksheet:
- Enter a description in details of the foreign source income.
- Assessable foreign source income.
- Exempt foreign employment income (enter $0 if there's nothing to report).
- Foreign pensions or annuities gross amount
- Foreign pensions or annuities deductible expenses (enter $0 if there's nothing to report)
- Foreign pensions or annuities undeductible purchase price (amount needs to be greater than $0; otherwise leave it blank)
- During the year did taxpayer own, or have an interest in, assets located outside Australia which had a total value of AUD$50,000 or more?
If the gross or net amount is
displayed at item 20L
(Net foreign pension or annuity income without an undetected purchase price), then you'll need to manually enter $0 at item D11Y
(Deductible amount of undeducted purchase price of a foreign pension or annuity).If you're claiming an amount at item 20D, the undeductible purchase price needs to be greater than $0. The undeductible purchase price amount will automatically transfer to item D11Y.