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2020 Tax time summary of non-individual form changes

This information describes the changes made to certain income tax return forms and schedules for the 2020 tax year.

Last updated 6 July 2020

About this summary

The purpose of this summary is to provide notification of the changes made to certain income tax return forms and schedules for the 2019–20 income tax reporting period.

For the definitive view of the changes to products you must always refer to the final published version of the relevant product.

Income tax returns and schedules

This summary covers the changes for the products listed below.

Company income tax return

The 2020 Company tax return is available in Portable Document Format (PDF).

The following changes have been made to the 2020 income year tax return.

3 - Status of company

Change

Item

Description

New

G2

Country by country reporting entity

5 - Country by country reporting entity

Change

Item

Description

Modify

5

From

Significant global entity

If, at question 3 label G1, you indicated that you are a significant global entity.

To

Country by country reporting entity

If, at question 3 label G2, you indicated that you are a Country by country reporting entity.

24 Internet trading

Change

Item

Description

Remove

24

'Did you sell any goods or services using the internet?'

Fund income tax return

The 2020 Fund income tax return is available in Portable Document Format (PDF).

There have been no changes made to the 2020 income year tax return.

Partnership tax return

The 2020 Partnership tax return is available in Portable Document Format (PDF).

2 - Status of business

Change

Item

Description

New

G2

Country by country reporting entity

4 - Internet trading

Change

Item

Description

Remove

4

'Did you sell any goods or services using the internet?'

32 - Non-Concessional MIT Income (NCMI)

Change

Item

Description

New

32

Non-Concessional MIT Income (NCMI)

Excluded from NCMI

52 - Statement of distribution

Change

Item

Description

New

52

Non-Concessional MIT Income (NCMI)

Excluded from NCMI

Trust tax return

The 2020 Trust tax return is available in Portable Document Format (PDF).

2 - Status of business

Change

Item

Description

New

G2

Country by country reporting entity

4 Internet trading

Change

Item

Description

Remove

4

'Did you sell any goods or services using the internet?'

32 - Non-Concessional MIT Income (NCMI)

Change

Item

Description

New

32

Non-Concessional MIT Income (NCMI)

Excluded from NCMI

56 - Statement of distribution

Change

Item

Description

New

56

Non-Concessional MIT Income (NCMI)

Excluded from NCMI

Attribution managed investment trust (AMIT) tax return

The 2020 AMIT instructions and AMIT tax return are not available in print or to download as a Portable Document Format (PDF).

Attribution managed investment trust (AMIT) tax schedule

Change

Item

Description

New

N.A.

  • Non-Concessional MIT Income (NCMI)
  • Excluded from NCMI
 

International dealings schedule (IDS)

The 2020 International dealings schedule (IDS) is available in Portable Document Format (PDF).

Section D - Thin capitalisation

Change

Item

Description

Remove

37a

Did you choose to recognise an internally generated intangible item under section 820-683?

Remove

37b

Average value amount of the internally generated intangible item you recognised under section 820-683

Remove

37c

Did you choose to revalue an intangible asset under section 820-684?

Section G - Hybrid Mismatches

Change

Item

Description

Modify

45-A

From

Did the hybrid mismatch rules affect you?

To

Did the hybrid mismatch rules apply to you?

Modify

46a-B

From

Total amount of deductions denied or total inclusion of income under subdivisions 832-C to 832-G

To

Total amount of payments which gave rise to deduction/non-inclusion mismatches and deduction/ deduction mismatches

Modify

48a-B

From

Total amount of deductions denied under subdivision 832-J

To

Total amount of deductions subject to subdivision 832-J

Modify

49-A

From

Did you restructure or replace an arrangement which would have been subject to any of the hybrid mismatch rules in the current year or the prior year if the arrangement was still in place?

To

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?

Modify

49a-B

From

Restructuring event 1 - As a result of the restructure, has the taxable income of the entity remained the same or decreased if compared to the replaced hybrid arrangement before the application of the hybrid mismatch rules?

To

Restructuring event 1 - As a result of the restructure, has your taxable income remained the same or decreased if compared to the replaced hybrid arrangement before the application of the hybrid mismatch rules?

Modify

49a-B

From

Restructuring event 2 - As a result of the restructure, has the taxable income of the entity remained the same or decreased if compared to the replaced hybrid arrangement before the application of the hybrid mismatch rules?

To

Restructuring event 2 - As a result of the restructure, has your taxable income remained the same or decreased if compared to the replaced hybrid arrangement before the application of the hybrid mismatch rules?

New

49a-B

From

Restructuring event 3 - As a result of the restructure, has the taxable income of the entity remained the same or decreased if compared to the replaced hybrid arrangement before the application of the hybrid mismatch rules?

To

Restructuring event 3 - As a result of the restructure, has your taxable income remained the same or decreased if compared to the replaced hybrid arrangement before the application of the hybrid mismatch rules?

Reportable tax position (RTP) schedule

The 2020 Reportable tax position (RTP) schedule is available in Portable Document Format (PDF).

There have been no changes made to the 2020 income year schedule.

Capital gains tax (CGT) schedule

The 2020 Capital gains tax (CGT) schedule is available in Portable Document Format (PDF).

There have been no changes made to the 2020 income year schedule.

Research and Development (R&D) tax incentive schedule

The 2020 Research and Development (R&D) tax incentive schedule is available in Portable Document Format (PDF).

There have been no changes made to the 2020 income year schedule.

Losses schedule

The 2020 Losses schedule is available in Portable Document Format (PDF).

There have been no changes made to the 2020 income year schedule.

Consolidated group losses schedule

The 2020 Consolidated group losses schedule is available in Portable Document Format (PDF).

There have been no changes made to the 2020 income year schedule.

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