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  • Section A: Vendor information

    Section A of the form requires information about the vendor.

    Questions 1–3 – Details about the vendor

    Provide the following information:

    • the vendor's Australian business number (ABN) at question 1
    • the vendor's legal name at question 2
    • the PRRT registration number (if any) for the transferred interest at question 3.

    Question 4 – Has the entity elected to be bound by the functional currency rules?

    At question 4, indicate whether a choice to be bound by the functional currency rules was in place for the year of transfer.

    • If the entity has not elected to be bound by the functional currency rules for the year of transfer, place an X in the 'No' box and go to Section B.
    • If the entity has elected to be bound by the functional currency rules for the year of transfer, place an X in the 'Yes' box and go to question 5.

    Question 5 – What is the functional currency translation rate?

    At question 5, provide the exchange rate (rounded to four significant figures) used to translate amounts from the applicable functional currency into Australian dollars. The vendor needs to use the functional currency rate from the day of the transfer to translate amounts into Australian dollars.

    The translation rate is the amount by which the functional currency amount is divided to reflect an equivalent amount of Australian dollars – that is, the number of non-Australian dollar currency units that equal one Australian dollar (rounded to four significant figures).

    Question 6 – State the applicable functional currency code

    At question 6, insert the functional currency code.

    See also:

    Last modified: 25 Jun 2020QC 56559