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  • Question 7

    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

    This question seeks information to assess transfer pricing risks arising from rent and/or leasing arrangements between Australian taxpayers and international related parties. We seek to determine the level of these transactions between Australian taxpayers and their international related parties and identify the pricing methodology used in relation to these arrangements.

    The terms 'rent' and 'lease' or 'leasing' have their ordinary meaning and will include hiring of chattels.

    The dollar amounts or values asked for this question are all based on your accounting records.

    If you had international related party dealings involving rent and/or leasing during the income year, answer 'Yes' at label A of this question and complete the required label fields.

    At label C, write the total amount of rent and/or leasing charges or fees payable by you to international related parties claimed as deductions for the income year.

    At label D, write the total amount of rent and/or leasing income you derived from international related parties included in your assessable income for the income year.

    At label E, write the Appendix 5 code for principal arm's length pricing method used to set or review consideration in respect of the rent and/or leasing charges or fees derived by or payable by you.

    At label F, write the Appendix 9 code for the percentage of your international related party dealings involving rent or leasing for which you have documentation. 'Percentage of dealings with documentation' refers to the aggregate dollar amount of transactions reported at this question for which you have relevant documentation (as per TR 98/11) expressed as a percentage of total dollar value of transactions reported at this question.

    Further Information

    For the list of:

    • main pricing methodologies codes, see Appendix 5
    • percentage of dealings with documentation codes, see Appendix 9.
    End of further information
    Last modified: 08 Aug 2014QC 26054