• Question 26

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Complete by placing an 'X' in the applicable box. If you answer 'yes', you will need to specify the amounts of foreign non-assessable non-exempt income you derived under any of the following:

    • section 23AH - foreign branch income of Australian companies
    • section 23AI - amounts paid out of attributed CFC income
    • section 23AJ - non-portfolio dividends from foreign companies.

    This question provides us with an understanding of the amount of non-assessable non-exempt income being derived in different tax jurisdictions and helps identify the nature of that income.

    To complete this question, work out the amount of your foreign income received as non-assessable non-exempt income under each of the sections 23AH, 23AI or 23AJ of the ITAA 1936 and the amount of this income derived from entities resident in each of the location categories:

    • listed country
    • specified country
    • other unlisted country.

    The amount of income reported under section 23AH should include the total of both income and capital gains that are non-assessable non-exempt under that section.

    Further Information

    For more information about when an entity has an interest in a foreign company or foreign trust, refer to Foreign income return form guide.

    For guidance in working out if these provisions apply to you, refer to sections 23AH, 23AI or 23AJ of the ITAA 1936.

    End of further information

    Appendix 4 contains a table of listed countries and appendix 2 contains a table of specified countries. All other foreign countries, including section 404 countries, are included in the other unlisted country category.

    If there is no non-assessable non-exempt income for some labels, leave those labels blank.

    Example

    An Australian resident receives the following non-assessable non-exempt income amounts as set out in the table.

    Country

    Section 23AH amount

    Section 23AI amount

    Section 23AJ amount

    Branch in the United States of America

    12,000,000

       

    Liechtenstein

     

    42,000

     

    Belgium

     

    630,000

     

    Belgium

       

    450,000

    As the United States of America is a listed country and the non-assessable non-exempt income is a section 23AH amount, the entity enters $12,000,000 at C.

    Liechtenstein is a specified country and as the non-assessable non-exempt income is a section 23AI amount, $42,000 is entered at G.

    As Belgium is not a listed country or a specified country it is an 'other unlisted country'. Consequently, the section 23AI non-assessable non-exempt income amount of $630,000 is entered at H and the 23AJ amount of $450,000 is entered at K.

    All other labels are left blank.

    Example of question 26

    Last modified: 09 Nov 2011QC 24292