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  • International dealings schedule 2020

    We have updated the International dealings schedule 2020 to:

    • Remove labels 37a to 37c in Section D: Thin Capitalisation. A reporting entity will continue to show the total amount of its asset revaluation for Division 820 purposes at label 37C including any increase in the values of assets recorded at fair value in its accounting records - Asset revaluation amount for thin capitalisation purposes.
    • Update and clarify wording in Section G: Hybrid Mismatches consistent with ATO advice on Section G reporting
      • Question 45 – replace ‘affect you’ with ‘apply to you’
      • Question 46a – replace ‘deductions denied or total inclusion of income under subdivisions 832-C to 832-G’ with ‘payments which gave rise to deduction/non-inclusion mismatches and deduction/deduction mismatches’
      • Question 48a – replace ‘denied under’ with ‘subject to’
      • Question 49 – will now read ‘Did you or your international related parties restructure or replace an arrangement in the current or prior year which would have been subject to any of the hybrid mismatch rules if the arrangement was still in place?’
      • Question 49a – replace ‘the taxable income of the entity’ with ‘your taxable income'.

    Use our International dealings schedule instructions to help you complete the International dealings schedule 2020 (NAT 73345). The international dealings schedule forms part of your entity's tax return.

    If you have any questions or feedback, email us at idsproject@ato.gov.au

    See also:

    Last modified: 03 Jul 2020QC 63108