Tax for shares, page-22

Regarding foreign shares:
1. there is no imputation credits claim for company tax paid for dividends from foreign companies.
2.You just declare the total dividend received as income. It needs to be converted into AUD$ for your tax return. You use either the exchange rate at the time of each dividend payment or the ATO publish average exchange rates that can be applied to any dividends within a year.
3. If you have paid tax to a foreign tax office for the foreign dividend income, then the amount of tax you paid them can be claimed as a foreign tax credit towards the tax you will owe the ATO. This will reduce the tax you have to pay the ATO, but any excess credit is not refundable like with imputation credits on Australian shares.

If this is confusing, and it can be for a newbie to Australia, it may pay you to see and pay an accountant for your first tax return. Ask around your mates for agood recommendation. The accountant will help set you up and you will 'learn the ropes'. It is simple once you understand it.

Finally: welcome to Aus! It's not a bad place to live.