The Australian Taxation Office (ATO) released its Interpretative Decision ATO ID 2008/57, which states that the Australia-United States tax treaty does not provide for a foreign tax credit in Australia in respect of a US tax paid by an Australian resident. The taxpayer in question was a citizen of the US and a resident in Australia under the treaty. The taxpayer made a capital gain on a sale of units in a limited partnership situated in the US and paid a US tax on the gain. The tax was assessed on the basis that the taxpayer was a citizen of...