• 2 Status of business

    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

    Print X at B1, B2, or B3 to show the appropriate description for the status of the business. If more than one selection applies, select the first applicable option. If none of the selections applies, leave B1 to B3 blank.

    Consolidation status

    Print X at Z2 if the trust was a subsidiary member of a consolidated group at any time during the income year.

    In this case the tax return is for the period during which the trust was not a subsidiary member of a consolidated group in the income year (non-membership period). If applicable, it will be necessary to complete an International dealings schedule 2012 for periods attributable to the non-membership period. For information about reporting multiple non-membership periods during the year, see Consolidation reference manual – then select 'Part C – Detailed information' – 'C9 – Determine tax liabilities, determine obligations' – 'C9-5-110'.

    If the trust was a member of a consolidated group for the whole income year, the responsibility for preparing the schedules will rest on the head company of the consolidated group.

    In this case, the tax return is for the period during which the trust was not a subsidiary member of a consolidated group in the income year. If you print X at Z2 the trust does not need to complete an International dealings schedule 2012.

    Last modified: 13 Aug 2014QC 28037