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  • Company income tax return

    The 2021 Company tax returnThis link will download a file is available in Portable Document Format (PDF).

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

    Company information

    Change

    Section

    Description

    New

    Current postal address

    Country if not Australia

    New

    Postal address on previous tax return

    Country if not Australia

    New

    Business address of main business

    Country if not Australia

    8 - Financial and other information

    Change

    Label

    Description

    New

    P

    Opening franking account balance

    Modify

    M

    From:

    Franking account balance

    To:

    Closing franking account balance

    New

    X

    Select your aggregated turnover range

    (select range A to P)

    New

    Y

    Aggregated turnover

    9 Capital Allowances

    Change

    Label

    Description

    Depreciating assets first deducted in this income year

    New

    P

    Are you making a choice to opt out of temporary full expensing for some or all of your eligible assets?

    (A – Some eligible assets, B – All eligible assets)

    New

    Q

    Number of assets you are opting out for

    New

    R

    Value of assets you are opting out for

    New

    S

    Temporary full expensing deductions

    New

    T

    Number of assets you are claiming for

    New

    U

    Are you using the alternative income test?

    New

    V

    Are you making a choice to opt out of Backing business investment for some or all of your eligible assets?

    (A – Some eligible assets, B – All eligible assets)

    New

    W

    Number of assets you are opting out for

    New

    X

    Value of assets you are opting out for

    New

    M

    First year accelerated depreciation deductions for assets using Backing business investment

    New

    O

    Instant asset write-off deductions for non-small business entities

    For all depreciating assets

    New

    N

    Subsequent year accelerated depreciation deductions for assets using Backing business investment

    13 - Losses information

    Change

    Label

    Description

    New

    A

    Tax loss 2019–20 carried back to 2018–19

    New

    B

    Tax loss 2020–21 carried back to 2018–19

    New

    C

    Tax loss 2020–21 carried back to 2019–20

    New

    G

    Tax Rate 2019–20

    New

    I

    Net exempt income 2018–19

    New

    J

    Net exempt income 2019–20

    New

    L

    Income tax liability 2018–19

    New

    M

    Income tax liability 2019–20

    New

    O

    Aggregated turnover in 2019–20

    Select your aggregated turnover range

    (select range A to P)

    New

    P

    Aggregated turnover

    New

    S

    Loss carry back tax offset

    (Include amount in calculation statement at label E – Refundable tax offsets)

    24 Internet trading

    Change

    Item

    Description

    Removed

    24

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

    Fund income tax return

    The 2021 Fund income tax returnThis link will download a file is available in Portable Document Format (PDF).

    8 - Status of fund or trust

    Change

    Item

    Description

    Modified

    N

    From:

    N – Significant global entity

    To:

    N1 – Significant global entity

    New

    N2

    Country-by-country reporting entity

    Partnership tax return

    The 2021 Partnership tax returnThis link will download a file is available in Portable Document Format (PDF).

    4 - Internet trading

    Change

    Item

    Description

    Removed

    4

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

    Business and professional items

    Change

    Item

    Description

    New

    48

    Aggregated turnover

    Select your aggregated turnover range U

    (select range A to P)

    Aggregated turnover V

    49 - Capital allowances

    Change

    Item

    Description

    New

    P

    Are you making a choice to opt out of temporary full expensing for some or all of your eligible assets?

    (A – Some eligible assets, B – All eligible assets)

    New

    Q

    Number of assets you are opting out for

    New

    R

    Value of assets you are opting out for

    New

    S

    Temporary full expensing deductions

    New

    T

    Number of assets you are claiming for

    New

    V

    Are you making a choice to opt out of Backing business investment for some or all of your eligible assets?

    (A – Some eligible assets, B – All eligible assets)

    New

    W

    Number of assets you are opting out for

    New

    X

    Value of assets you are opting out for

    New

    M

    First year accelerated depreciation deductions for assets using Backing business investment

    New

    O

    Instant asset write-off deductions for non-small business entities

    For all depreciating assets

    New

    N

    Subsequent year accelerated depreciation deductions for assets using Backing business investment

    Trust tax return

    The 2021 Trust tax returnThis link will download a file is available in Portable Document Format (PDF).

    4 Internet trading

    Change

    Item

    Description

    Removed

    4

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

    Business and professional items

    Change

    Item

    Description

    New

    49

    Aggregated turnover

    Select your aggregated turnover range

    P (select range A to P)

    Aggregated turnover Q

    50 - Capital allowances (previously 49)

    Change

    Item

    Description

    New

    P

    Are you making a choice to opt out of temporary full expensing for some or all of your eligible assets?

    (A – Some eligible assets, B – All eligible assets)

    New

    Q

    Number of assets you are opting out for

    New

    R

    Value of assets you are opting out for

    New

    S

    Temporary full expensing deductions

    New

    T

    Number of assets you are claiming for

    New

    V

    Are you making a choice to opt out of Backing business investment for some or all of your eligible assets?

    (A – Some eligible assets, B – All eligible assets)

    New

    W

    Number of assets you are opting out for

    New

    X

    Value of assets you are opting out for

    New

    M

    First year accelerated depreciation deductions for assets using Backing business investment

    For all depreciating assets

    New

    N

    Subsequent year accelerated depreciation deductions for assets using Backing business investment

    New

    O

    Instant asset write-off deductions for non-small business entities

    Attribution managed investment trust (AMIT) tax return

    The 2021 AMIT instructions and AMIT tax return are not available in print or to download as a Portable Document Format (PDF).

    Trust information

    Change

    Item

    Description

    New

    Current postal address

    Country

    New

    Postal address on previous tax return

    Country

    Additional information

    Change

    Description

    New

    Significant global entity

    New

    Country-by-country reporting entity

    Key financial information

    Change

    Description

    New

    Select your aggregated turnover range

    (select range A to P)

    New

    Aggregated turnover

    Capital allowances

    Change

    Description

    New

    Are you making a choice to opt out of temporary full expensing for some or all of your eligible assets?

    A – Some eligible assets, B – All eligible assets)

    New

    Number of assets you are opting out for

    New

    Value of assets you are opting out for

    New

    Temporary full expensing deductions

    New

    Number of assets you are claiming for

    New

    Are you making a choice to opt out of Backing business investment for some or all of your eligible assets?

    (A – Some eligible assets, B – All eligible assets)

    New

    Number of assets you are opting out for

    New

    Value of assets you are opting out for

    Declarations

    Change

    Description

    New

    Declarer position

    New

    Contact name

    New

    Declarer identifier

    New

    Telephone number

    International dealings schedule (IDS)

    The 2021 International dealings scheduleThis link will download a file (IDS) is available in Portable Document Format (PDF).

    Section A – International related party dealings

    Change

    Item

    Description

    Modified

    2b

    From

    Are you a small business entity, not a significant global entity and your international related party dealings do not exceed 50% of your current year aggregated turnover?

    To

    Are you a small business entity, not a significant global entity and your international related party dealings do not exceed $5 million and 50% of your current year aggregated turnover?

    Modified

    8c

    From

    Insurance

    To

    Insurance services

    Modified

    8d

    From

    Reinsurance

    To

    Reinsurance services

    Modified

    8i

    From

    Logistics

    To

    Logistics services

    Modified

    8j

    From

    Asset management

    To

    Asset management services

    Modified

    13a

    From

    Tangible property

    To

    Disposal or acquisition of tangible property

    Modified

    13e

    From

    Other intangible property

    To

    Other disposal or acquisition of intangible property

    Reportable tax position (RTP) schedule

    The 2021 Reportable tax position scheduleThis link will download a file is available in Portable Document Format (PDF).

    There have been no changes made to the 2021 income year schedule.

    Capital gains tax (CGT) schedule

    The 2021 Capital gains tax (CGT) scheduleThis link will download a file is available in Portable Document Format (PDF).

    There have been no changes made to the 2021 income year schedule.

    Research and Development (R&D) tax incentive schedule

    The 2021 Research and Development tax incentive scheduleThis link will download a file is available in Portable Document Format (PDF).

    There have been no changes made to the 2021 income year schedule.

    Losses schedule

    The 2021 Losses scheduleThis link will download a file is available in Portable Document Format (PDF).

    There have been no changes made to the 2021 income year schedule.

    Consolidated group losses schedule

    The 2021 Consolidated groups losses schedule is available in Portable Document Format (PDF).

    There have been no changes made to the 2021 income year schedule.

    Loss carry back claim form

    The Loss carry back claim formThis link will download a file – 2020–21 – Early balancer substituted accounting period or lodging a company tax return for party year (NAT 75344) was available for use until 30 June 2021.

    From 1 July 2021, refer to the Company tax return 2021.

    For more information see Loss carry back tax offset.

    Last modified: 16 Jul 2021QC 66369