Complete by placing an 'X' in the applicable box. If you answer 'yes', you need to include:
- the number of foreign hybrid limited partnerships (FHLPs) or foreign hybrid companys (FHCs) you had interest in during the income year at C
- the total amount of your share of net income/distribution of profit received at D.
This question will help us to identify if there is a risk that income of a FHLP or a FHC has not been appropriately returned in Australia as an assessable distribution.
FHLP has the same meaning as set out in section 830-10 of the ITAA 1997.
FHC has the same meaning as set out in section 830-15 of the ITAA 1997.
Example
ABC Co is an Australian resident taxpayer that is a partner in several foreign hybrid limited partnerships. It also holds shares in a foreign hybrid company. During the income year ABC Co received the following in respect of its interests in these entities.
Entity |
Amount |
Share of net income from the BBB Partnership |
750,000 |
Share of net income from the CCC Partnership* |
(100,000) |
Distribution of profit from the XYZ Company |
275,000 |
Total |
925,000 |
*This would be the deductible amount per section 830-45 of the ITAA 1997.
ABC Co will complete question 30 as follows.