I know Brokers statments can be wrong and with that in mind I am looking at a broker's statement which shows dividends from Australia of gross £2.26, foreign tax deducted £0.03 and taxable amount £2.23. The FTC box is not ticked, suggesting that a FTC cannot be claimed and suggest that we ought to claim relief by deduction rather than by by credit.
I have checked the Australia DTA and can see no reason for a restriction in a direct claim to the foreign tax.
Also, if no direct claim can be made, surely I woul dbe able to claim unilateral relief for the credit?
I appreciate the amounts are small but I would like to understand the rationale. Can anyone shed any light.