Instructions to complete Section F: Miscellaneous.
Question 42 Conduit foreign income
The conduit foreign income provisions are in Subdivision 802-A of the ITAA 1997.
If you were an Australian corporate tax entity that had conduit foreign income within the meaning of Subdivision 802-A at any time during 2021–22, answer Yes at A item 42 and complete the following.
Write at B item 42 the amount of the entity's conduit foreign income determined under sections 802-25 to 802-55 of the ITAA 1997 at the end of 2021–22.
For the requirement under subsection 802-30(5) to subtract the amount of expenses that are reasonably related to the amounts included in foreign source income under subsections 802-30(1) to (4), see ATO ID 2013/6 Conduit foreign income: impairment of shares in a foreign company that paid a non-portfolio dividend.
Leave B item 42 blank if the only conduit foreign income that the entity derived was through distributions from other Australian companies and the entity did not make distributions that the entity declared to be conduit foreign income (within the meaning of section 802-45).
If the amount of the entity's conduit foreign income at the end of 2021–22 is negative, print L in the box at the right of the amount shown at B item 42.
If the entity was a subsidiary member of a consolidated or MEC group at the end of 2021–22 and is completing a tax return because of any non-membership periods, write at B item 42 the amount of the entity's conduit foreign income determined under sections 802-25 to 802-55 of the ITAA 1997 at the end of the latest non-membership period.
Write at C item 42 the total amount of distributions made by the entity that were declared by the entity to be conduit foreign income (within the meaning of section 802-45).
If the entity was a subsidiary member of a consolidated or MEC group at the end of 2021–22 and is completing a tax return because of any non-membership periods, write at C item 42 the total amount of distributions made by the entity that were declared by the entity to be conduit foreign income (within the meaning of section 802-45) during all the non-membership periods in 2021–22.
Question 43 Unfranked non-portfolio dividend account
If an amount is deducted by a company under section 46FA of the ITAA 1936, the company is required under subsection 46FA(4) to maintain an unfranked non-portfolio dividend account under section 46FB of the ITAA 1936.
If you are a company with an unfranked non-portfolio dividend account under section 46FB, answer Yes at A item 43 and complete the required fields.
Write at B item 43 the amount of the company's unfranked non-portfolio dividend account surplus at the end of 2021–22 determined under subsection 46FB(2) of the ITAA 1936.
Write in the Code box for B item 43:
- Y if any of the amounts included in the company's unfranked non-portfolio dividend account surplus during 2021–22 were also included in the amount of the company’s conduit foreign income for 2021–22
- N in any other circumstance.
Question 44 Interest paid – exempt from withholding tax
Did you pay an amount of interest exempt from withholding tax during
2021–22?
- No – print X in the No box at question 44 – label A. Go to question 45.
- Yes – print X in the Yes at question 44 – label A . Read on.
Write at B item 44 the total amount of interest you paid in 2021–22 to Finnish, French, German, Japanese, New Zealand, Norwegian, South African, Swiss, United Kingdom and United States financial institutions that was exempt from withholding tax because of Article 11 of a double tax agreement (DTA) with these countries.
You must complete C item 44 if you have shown an amount at B item 44.
Write at C item 44 the below three-letter country code for the country of the financial institutions to which you paid the highest total amount of interest exempt from withholding tax under Article 11 during 2021–22:
- CHE if the exempt interest payments were to Swiss financial institutions
- DEU if the exempt interest payments were to German financial institutions
- FIN if the exempt interest payments were to Finnish financial institutions
- FRA if the exempt interest payments were to French financial institutions
- GBR if the exempt interest payments were to United Kingdom financial institutions
- JPN if the exempt interest payments were to Japanese financial institutions
- NOR if the exempt interest payments were to Norwegian financial institutions
- NZL if the exempt interest payments were to New Zealand financial institutions
- USA if the exempt interest payments were to United States financial institutions
- ZAF if the exempt interest payments were to South African financial institutions.
Write at D item 44 the total amount of interest you paid in 2021–22 to non-residents that is exempt from interest withholding tax under section 128F of the ITAA 1936.
Write at E item 44 the total amount of interest you paid in 2021–22 to non-residents that is exempt from interest withholding tax under section 128FA of the ITAA 1936.
Continue to: Section G: Hybrid mismatches