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  • Question 28

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    Warning:

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

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    Question 28a Were you a beneficiary of a non-resident trust or did you have an interest in, or an entitlement to acquire an interest in, either the income or capital of a non-resident trust during the income year?

    This question will help us to identify if there is a risk that income of a non-resident trust estate has not been appropriately included in the assessable income of an Australian resident beneficiary.

    Unless otherwise specified, the terms used in this question have the same meaning as set out in Divisions 6 and 6AAA of the ITAA 1936.

    To complete this question, work out whether one of the following applied:

    • you were a beneficiary of a non-resident trust estate during the income year
    • you had an interest in the income or capital of a non-resident trust estate during the income year
    • you had a right to acquire an interest in the income or capital of a non-resident trust estate during the income year.

    If any of the above were the case, answer Yes at A item 28a.

    Question 28b Do any of the schedules within PCG 2017/1 apply to your offshore dealings?

    The values asked for in this question are all based on your accounting records.

    To complete this question:

    • identify all of your offshore dealings that are subject to any of the schedules within PCG 2017/1
    • add up the value of expenses and imports plus revenue and exports in connection with each Appendix 14 type of hub
    • determine the three Appendix 14 hub types that have the highest dollar value of property or services imported to or exported from Australia (the total value of expenses and imports plus revenue and exports)
    • in respect of the three Appendix 14 hub types that have the highest dollar value of property or services imported to or exported from Australia, add up the value of expenses and imports in connection with each type of hub according to the Appendix 14 type of hub
    • add up the value of revenue and exports in connection with each type of hub according to the Appendix 14 type of hub.

    At B, E and H, write the Appendix 14 codes for the three hub types that have the highest dollar value of property or services imported to or exported from Australia (the total value of expenses and imports plus revenue and exports). Write these codes in descending order of total value.

    At C, F and I, write the total amount of expenses and imports in connection with each Appendix 14 hub type you have identified.

    At D, G and J, write the total amount of revenue and exports in connection with each Appendix 14 hub type you have identified.

    Last modified: 06 Nov 2018QC 55230