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View Full Version : Tax paid in US on 401k cash out - will this also be counted as taxable income in AUS?


blovx5
Dec 29, 2009, 03:17 AM
We have been in Australia for a few years but last year we cashed in our 401k, filed US taxes and paid all applicable taxes (around 30%)
We are now needing to file AUS taxes (since the tax year is July-Jun) albeit a little late, but it appears that this will be treated as taxable income in AUS also. I have come across conflicting information, can anyone help? Thanks.

MukatA
Dec 29, 2009, 12:43 PM
This forum is about the U.S. taxes.

Even if it is taxable in Aus, you may also be able to claim credit for taxes paid in the U.S.