Use a separate worksheet for each partnership. All amounts are to be in the currency in which the accounts of the partnership are kept. Do not convert to Australian dollars.
Part A Working out the partnership’s gross turnover
Step 1
Work out the partnership’s gross revenue as shown in the partnership’s accounts
- $_______ (a)
Step 2
Work out the following amounts included in a.
Do not include these amounts in the ratio.
Category of gross revenue |
Amount $ |
|---|---|
Amounts already assessed to the CFC in Australia |
|
Amounts derived through a branch in a listed country that are not EDCI in relation to any listed country and are subject to tax in a listed country |
|
Non-portfolio dividends from a foreign company |
|
Dividends out of profits previously attributed |
|
Franked dividends |
|
Trust amounts |
|
Total |
(b) |
Step 3
Work out the following gross amounts included in (a).
Do not count amounts already excluded under step 2. The net amounts are added back at step 4.
Category of gross revenue |
Amount $ |
|---|---|
Revenue from commodity contracts |
|
Revenue from exchange gains |
|
Revenue from other asset disposals |
|
Total |
(c) |
Step 4
Work out net gains included in gross turnover.
Do not count amounts that fall into the categories in step 2.
Category of net gain |
Amount $ |
|---|---|
Net commodity gain |
|
Net exchange gain |
|
Net gain from other asset disposals |
|
Total |
(d) |
Gross turnover of the partnership (a – b – c + d) = $________(A)
Part B Working out the partnership’s gross tainted turnover
Step 1
Work out the partnership’s gross revenue that is passive income after exclusions (item a from part A less items b and c from part A) that falls into the following categories of passive income:
Category of passive income |
Amount $ |
|---|---|
Tainted interest income |
|
Annuities |
|
Tainted royalty income |
|
Tainted rental income |
|
Dividends |
|
Other passive income |
|
Total |
(a) |
Step 2
Work out the partnership’s gross revenue that is tainted sales income after exclusions (item a from part A less items b and c from part A). $________ (b)
Step 3
Work out the partnership’s gross revenue that is tainted services income after exclusions (item a from part A less items b and c from part A). $________ (c)
Step 4
Work out the partnership’s net gains included in gross turnover that are tainted income.
Category |
Amount $ |
|---|---|
Net commodity gain (from part A) |
|
Net tainted commodity gain |
|
Smaller amount |
|
Net exchange gain (from part A) |
|
Net tainted exchange gain |
|
Smaller amount |
|
Net gain from assets (from part A) |
|
Net gain from tainted assets |
|
Smaller amount |
|
Total smaller amounts |
(d) |
Gross tainted turnover of the partnership (a + b + c + d) = $________ (B)
Part C CFC’s share of the gross turnover and the gross tainted turnover
CFC’s percentage interest in the net income of the partnership:
- %
CFC’s share of the gross turnover of the partnership:
Percentage interest in net income from above × (A from part A) = $ (C)
Use this amount to fill in step 5 of part A of worksheet 2
CFC’s share of the gross tainted turnover of the partnership:
Percentage interest in net income from above × (B from part B) = $ (D)
Use this amount to fill in step 5 of part B of worksheet 2