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The difference between the standard deduction vs. itemized deductions comes down to simple math. The standard deduction lowers your income by one fixed amount. On the other hand, itemized deductions are made up of a list of eligible expenses. You can claim whichever deduction reduces your tax bi...
While working in Australia you will have paid both income tax and superannuation on your earnings. If you are a temporary resident, who has worked and lived in Australia, you can apply and claim back any overpaid income tax and your superannuation payments....
Lump-sum distributions: These include income you received from a foreign-sourced pension plan. Foreign tax credit without Form 1116 Situations exist that allow you to claim the FTC without filing Form 1116, if the income concerned meets the qualifying definition. For example: If all your...