This guide shows how to capture Foreign Tax Withheld/Offset for dividends and trust distributions in Navexa. It works for shares, ETFs and custom investments, in any currency.
When To Use It
Use the Foreign Tax Withheld/Offset field whenever tax was taken out at source or you have a foreign tax offset amount to record, for example:
US shares or ETFs with 15% treaty withholding
Canadian, UK, NZ or other markets that withhold at source
Foreign tax offsets shown on an ETF’s annual AMMA statement
Any custom investment income where foreign tax or an offset applies
Some broker feeds only sync the net cash. If the tax line is missing, enter it yourself so reports are accurate.
What To Enter
Always use the dividend’s original currency. Navexa converts to AUD using the paid date’s rate, which you can override.
Net Payment (FX) is the cash you received.
Foreign Tax Withheld/Offset (FX) is the amount withheld or the offset amount. Enter a positive number.
Exchange Rate (AUD to FX) is auto filled by date and can be edited.
Franking Credits should be zero for foreign income.
Navexa calculates Gross Payment = Net Payment + Foreign Tax Withheld/Offset.
Steps: Shares and ETFs
Open the holding, go to Income (1), find relevant dividend or distribution, click ⋮ (2) then Edit (3).
Confirm the Paid date. (1)
Enter the Net Payment in the original currency. (2)
Enter Foreign Tax Withheld/Offset in the same currency. (3)
Review or edit the Exchange Rate. (4)
Add a note if helpful, then select Update Dividend. (5 & 6)
Steps: Custom Investments
Open the custom investment’s Income tab and edit the payment.
Open Additional Fields.
Enter Foreign Tax Withheld/Offset.
Review the Exchange Rate and update the entry.
Where It Appears
Go to Reports → Tax Reporting → Taxable Income and scroll to Foreign Income. You will see columns for:
Exchange Rate
Net Amount
Foreign Tax Withheld/Offset
Gross Amount
Year-to-date totals are shown at the bottom.
FAQs
Do I enter a negative for the tax?
No. Enter the withheld or offset amount as a positive figure.
What if the dividend was reinvested?
Tick Dividend Reinvested. The reinvested amount remains the net figure. The withheld amount is still recorded for reporting.
Is this only for USD?
No. Use it for any currency and any market.
Will this change my cash balance?
No. It records the withholding or offset for reporting while keeping the net cash correct.
Note: This article explains how to record information in Navexa. It is general information only and not personal financial or tax advice. Eligibility to claim a Foreign Income Tax Offset depends on your circumstances. Please refer to the ATO or speak with a registered tax adviser.