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  • How to complete the schedule

    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

    We strongly recommend that you read these instructions when completing the International dealings schedule.

    If the information requested is not relevant to your circumstances, leave the fields blank.

    All amounts within the schedule are in Australian dollars.

    The dollar amounts or values asked for in this schedule are to be based on your accounting records, unless a question specifically asks for values based on your income tax records.

    The 2017 IDS did not include item 13f (R&D activities for the benefit of an overseas related party on cost-plus basis). If you performed R&D activities for the benefit of an overseas related party on a cost-plus basis, we understand that you may not have accounting systems which automatically collected and aggregated all the information required to complete all parts of item 13f for the first year based on the outputs from your accounting system alone.

    If this is the case, complete item 13f using your current systems and make a best effort to estimate figures where you do not have records of the actual data.

    Keep a record of:

    • your determination of the best estimate figures you provided at item 13f
    • what data you used to make this estimate.

    You are not required to send the record of your workings to us. However you must keep the record with other documentation for your tax return. For further information on record keeping, refer to Keeping your tax records.

    The 2017 IDS did not include items 23a and 23b (notional assessable income and notional allowable deductions for your CFCs). If you have notional assessable income or notional allowable deductions for your CFCs, we understand that you may not have accounting systems which automatically collected and aggregated all the information required to complete all parts of items 23a and 23b for the first year based on the outputs from your accounting system alone.

    If this is the case, complete items 23a and 23b using your current systems and make a best effort to estimate figures where you do not have records of the actual data.

    Keep a record of:

    • your determination of the best efforts figures provided at items 23a and 23b
    • what data you used to make this estimate.

    You are not required to send the record of your workings to us. However you must keep the record with other documentation for your tax return. For further information on record keeping, refer to Keeping your tax records.

    Any feedback you can provide to us on the difficulty or otherwise in completing this schedule would be appreciated and will be considered for future versions of this schedule. For information about the methods of providing feedback, see About these instructions.

    For the definitions of terms used in this schedule, see Definitions.

    When we say you, your business or taxpayer in these instructions, we mean either:

    • you as a business entity, for example, a company, trust or partnership that conducts a business
    • you as the tax agent or public officer responsible for completing the schedule.

    Question 1

    Provide your entity's:

    • name
    • tax file number (TFN)
    • Australian business number (ABN).

    These details should be exactly the same as those shown on your entity's tax return.

    Last modified: 06 Nov 2018QC 55230