International dealings schedule

What the schedule does

We have introduced a new income tax schedule for 2012, the International dealings schedule (IDS) 2012.

The IDS 2012 replaces the previous Schedule 25A and Thin capitalisation schedule. The questions for you to complete better align with:

• our risk management processes
• your record-keeping and business systems
• projects such as standard business reporting.

The IDS 2012 captures data about international transactions that will:

• inform our international risk assessment and mitigation strategies
• allow more targeted assistance
• support compliance activities and help reduce compliance costs.

For a copy of the form and instructions, refer to: International dealings schedule 2012 International dealings schedule instructions 2012.

External consultation

We conducted an extensive consultation process in 2009-10 with financial services bodies and National Tax Liaison Group (NTLG) representatives to co-design a pilot for the new schedule for the financial services industry.

Consultation also took place in 2011-12 with a working group of representatives from the NTLG - International sub-committee, 32 taxpayer forums, groups or committees and software developers to finalise the IDS and its supporting instructions for 2012.

An IDS communication strategy has been implemented, with a number of articles being included in various taxpayer-focused publications.