Code |
Description of transaction category |
|---|---|
TPRN |
Tangible property of a revenue nature. Any IRPDs in tangible property of a revenue nature, including sale or purchase of trading stock and raw materials. The definition of trading stock in section 70-10 of the Income Tax Assessment Act 1997 (ITAA 1997) should be used to determine what trading stock is for the purpose of this question. |
- Transaction Identifier
Show the Transaction ID for the transaction being reported.
(LCMSF31)
- Related Transaction Identifier(s)
Show all Transaction IDs that are directly connected to the transaction being reported.
(LCMSF206)
- What is the transaction category?
Select the transaction category for the IRPD transaction.
(LCMSF32)
- Is this transaction part of a RAS?
If this transaction is covered by an IRPD agreement in a RAS, indicate True.
Otherwise indicate False.
(LCMSF33)
- How many transactions are part of the RAS?
If the transaction is part of a RAS, indicate the applicable range for the number of the transactions in the same RAS that were current during the income year:
- Low (1–5)
- Moderate (6–50)
- High (51 or more)
(LCMSF35)
- Australian counterparty name
Show the full name of the Australian counterparty (which may be the reporting entity itself) to this transaction/RAS.
(LCMSF207)
- ABN or TFN of the Australian counterparty to the transaction/RAS
Show the ABN or TFN of the Australian counterparty (which may be the reporting entity itself) to the transaction/RAS.
(LCMSF83 and LCMSF84)
- Name of the IRP non-resident counterparty to the transaction/RAS
Show the full name of the IRP non-resident counterparty to this transaction/RAS.
The full name to be shown is the complete name of the IRP non-resident counterparty entity. While this would be expected to usually correspond with the name of the relevant party in any associated written agreement documentation, the full correct name of the entity should be shown at Part A even if this is not exactly the same as the name used in any associated written agreement documentation.
(LCMSF37)
- Tax residency of the IRP non-resident counterparty to the transaction/RAS
Show the country codeExternal Link for the country of tax residence of the IRP non-resident counterparty to this transaction/RAS.
(LCMSF38)
- Was the transaction/RAS entered into by the non-resident counterparty in the course of its business operations carried on through a permanent establishment in a different country to its country of tax residence?
Indicate True if the transaction/RAS was entered into by the non-resident counterparty in the course of its business operations carried on through a PE in a different country to its country of tax residence.
Otherwise indicate False.
(LCMSF208)
- Country of permanent establishment of non-resident counterparty
This question applies only if you answer True to Question 10.
Show the country codeExternal Link of the PE.
(LCMSF209)
- Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS
If an amount of a capital nature was paid by the reporting entity in connection with this transaction/RAS during the income year, show this amount based on its accounting records.
If no amount of a capital nature was paid by the reporting entity in connection with this transaction/RAS during the income year, show zero.
(LCMSF39)
- Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS
If an amount of a capital nature was received by the reporting entity in connection with this transaction/RAS during the income year, show this amount based on its accounting records.
If no amount of a capital nature was received by the reporting entity in connection with this transaction/RAS during the income year, show zero.
(LCMSF40)
- Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration of a capital nature was provided by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF85)
- Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration of a capital nature was obtained by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF86)
- Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS
Show the amount of expenditure not of a capital nature for income tax purposes in connection with this transaction/RAS during the income year based on the reporting entity’s accounting records.
If there was no amount of expenditure that is not of a capital nature in connection with this transaction/RAS during the income year, show zero.
(LCMSF41)
- Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS
Show the amount of revenue not of a capital nature for income tax purposes in connection with this transaction/RAS during the income year based on the reporting entity’s accounting records.
If there was no amount of revenue that is not of a capital nature in connection with this transaction/RAS during the income year, show zero.
(LCMSF42)
- Average balance of debt interests
Not applicable.
(LCMSF210)
- Capitalised interest deducted
Not applicable.
(LCMSF211)
- Average balance of debt interests
Not applicable.
(LCMSF212)
- Capitalised interest returned
Not applicable.
(LCMSF213)
- Book values
Not applicable.
(LCMSF214)
- Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration not of a capital nature for income tax purposes was provided by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF44)
- Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration not of a capital nature was obtained by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF45)
- Did you enter into a deferred foreign currency payment arrangement in relation to this transaction
You can only indicate True or False if the transaction category is RRP or HLPE.
Indicate True if you have entered into a deferred foreign currency payment arrangement in relation to a RRP or HLPE transaction, otherwise indicate False.
If the transaction category is not RRP or HLPE, leave the question blank.
(LCMSF215)
- Foreign Currency Reporting type
This question applies only if you answer True to Question 25.
Please indicate the type of foreign currency deferred payment arrangement entered into:
1 = short term foreign currency deferred payment arrangements
2 = longer term foreign currency deferred payment arrangements
If you have indicated 1, then you will need to only provide the Foreign Currency CodeExternal Link at Question 27.
If you have indicated 2, then you will need to show your foreign exchange gains or losses at the relevant IRPD foreign currency deferred payment arrangements transaction category.
(LCMSF216)
- Foreign Currency Code
This question applies only if you answer True to Question 25 and indicate that you entered into a short-term foreign currency deferred payment arrangement at Question 26.
Show the Foreign Currency CodeExternal Link applicable to the foreign currency deferred payment arrangement.
(LCMSF217)
- Amount of foreign exchange losses deducted for the transaction/RAS
This question applies only if you answer False to Question 25.
Show the amount of foreign exchange losses deducted for income tax purposes by the reporting entity in connection with this transaction/RAS under Division 775 of the ITAA 1997 or, if applicable, the taxation of financial arrangements (TOFA) provisions in Division 230 of the ITAA 1997 for the income year.
For more information about the circumstances in which foreign exchange gains are assessable and foreign exchange losses are deductible for Australian income tax purposes, refer to Appendix 6.
If there was no foreign exchange loss deducted for income tax purposes in connection with this transaction/RAS for the income year, show zero.
(LCMSF87)
- Foreign Currency Code
This question applies only if you answer False to Question 25.
Show the Foreign Currency CodeExternal Link in relation to foreign exchange losses deducted for the transaction/RAS
(LCMSF219)
- Amount of foreign exchange gains returned for the transaction/RAS
This question applies only if you answer False to Question 25.
Show the amount of foreign exchange gains assessable for income tax purposes in connection with this transaction/RAS under Division 775 of the ITAA 1997 or, if applicable, the TOFA provisions in Division 230 of the ITAA 1997 for the income year.
For more information about the circumstances in which foreign exchange gains are assessable and foreign exchange losses are deductible for Australian income tax purposes, refer to Appendix 6.
If there was no foreign exchange gain assessable for income tax purposes in connection with this transaction/RAS, show zero.
(LCMSF43)
- Foreign Currency Code
This question applies only if you answer False to Question 25.
Show the Foreign Currency CodeExternal Link in relation to foreign exchange gains returned for the transaction/RAS.
(LCMSF221)
- What transfer pricing or capital asset pricing methodology has been applied to this transaction/RAS?
If the reporting entity does not know which transfer pricing methodology has been applied to this transaction/RAS, select the code UNKT (Unknown TP Method).
If the reporting entity does not know which capital asset pricing methodology has been applied to this transaction/RAS, select the code UNKC (Unknown CAP Method).
(LCMSF46)
- What level of transfer pricing documentation has been prepared for this transaction/RAS?
The level of transfer pricing documentation refers to the aggregate dollar amount of this transaction/RAS for which the reporting entity has prepared relevant transfer pricing documentation, expressed as a percentage of total dollar value of this transaction/RAS.
1 = 0%
2 = 1% to less than 25%
3 = 25% to less than 50%
4 = 50% to less than 75%
5 = 75% to less than 100%
6 = 100%
If this transaction/RAS meets the conditions for one of the following simplified transfer pricing record keeping (STPRK) options, outlined in PCG 2017/2 Simplified Transfer Pricing Record Keeping Options, show the codes for the STPRK option applied to the transaction/RAS:
(LCMSF47)
- If the reporting entity is a bank and this transaction is in a RAS, has the special short-term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS?
Always indicate False if the transaction category is not ordinary borrowings or ordinary loans.
(LCMSF88)
- If the reporting entity is a bank and this transaction is in a RAS, has the special short-term tenor rule for short term derivatives been applied to this RAS?
Always indicate False if the transaction category is not derivatives.
(LCMSF128)
- If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS?
Always indicate False if the transaction category is not derivatives.
(LCMSF129)
- If the reporting entity is an OBU, is this transaction/RAS an OB activity?
If the reporting entity is an OBU and this transaction/RAS is an OB activity under sections 121D and 121EAA of the ITAA 1936, indicate True.
Otherwise indicate False.
(LCMSF63)
- Is this transaction/RAS covered by a category on the exclusions list?
If this transaction/RAS is covered by one of the following categories on the exclusions list, indicate True.
- RUESA – Reimbursement under employee secondment agreements
- LVLRSPT – Low value or low risk sale and purchase tangible trading stock agreements
Otherwise indicate False.
(LCMSF48)
- What category of the exclusions list applies to this transaction/RAS?
If you indicated True to Question 38, select the category on the exclusions list which applies to this transaction/RAS.
(LCMSF49)
- Transaction Comments
Provide any relevant comments in respect of the transaction or RAS.
(LCMSF222)
Reporting examples: IRPDs in tangible property of a revenue nature
Example 1: Sale of iron ore to Singapore IRP
Aus Co is a company that is resident in Australia for tax purposes.
Aus Co has an income tax year ending 30 June.
Aus Co’s functional currency for Australian tax purposes is Australian dollars.
During the income year Aus Co sold iron ore to its subsidiary in Singapore (Singapore Co) in more than 25 transactions under agreements on the same terms except for date, price, volume and delivery. The 25 transactions for the sale of iron ore are therefore in the same RAS in accordance with Appendix 8.
The aggregate sale price payable to Aus Co by Singapore Co for these sales was A$350 million as recorded in Aus Co’s accounting records.
Aus Co incurred expenditure of A$17 million for fees and commissions paid to Singapore Co for services provided to Aus Co in connection with sales and marketing of the iron ore.
Aus Co did not return foreign exchange gains or deduct foreign exchange losses during the income year for the sale of the iron ore because Aus Co had an Australian dollar functional currency for Australian tax purposes and the sale of the iron ore was for an Australian dollar sale price.
Aus Co did not enter into any deferred foreign currency payment arrangements.
Aus Co did not pay or obtain any consideration of a capital nature in relation to the sale of iron ore to Singapore Co.
Aus Co did not provide or obtain any non-monetary consideration in relation to the sale of iron ore to Singapore Co.
Aus Co shows the transaction category for the sale of iron ore to Singapore Co by using the transaction category ‘tangible property of a revenue nature’ which covers international related party dealings involving tangible property of a revenue nature, including sale or purchase of trading stock or raw materials.
Aus Co has applied the transfer pricing methodology ‘Comparable uncontrolled price method’ to this transaction/RAS.
Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of this transaction/RAS.
The total amount returned in the income year by Aus Co in connection with the transaction/RAS is not less than A$2 million or less than 2% of Aus Co’s total IRPD revenue, so the transaction/RAS does not satisfy the category of ‘low value / low risk sale and purchase tangible trading stock agreements’ on the exclusions list.
Aus Co is not an OBU.
Singapore Co is a company that is resident in Singapore for tax purposes.
Singapore Co does not carry on its business operations through a permanent establishment.
Aus Co completes the Questions for the transaction/RAS in this example based on its accounting records as shown in the following table.
Table 2: Completed entry – Sale of iron ore to IRP (Tangible property of a revenue nature)Question no. |
Question label |
Response |
|---|---|---|
1 |
Transaction Identifier |
[Transaction ID] |
2 |
Related Transaction Identifier(s) |
[Transaction IDs] |
3 |
Transaction category |
TPRN |
4 |
Is this transaction part of a RAS? |
True |
5 |
How many transactions are part of the RAS? |
Moderate |
6 |
Australian counterparty name |
[Australian counterparty name] |
7 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
8 |
Name of the IRP non-resident counterparty to the transaction/RAS |
Singapore Co |
9 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
SG |
10 |
Was the transaction/RAS entered into by the non-resident counterparty in the course of its business operations carried on through a permanent establishment in a different country to its country of tax residence? |
False |
11 |
Country of permanent establishment counterparty |
na |
12 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
13 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
14 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
15 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
16 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS |
0 |
17 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS |
350000000 |
18 |
Average balance of debt interests |
na |
19 |
Capitalised interest deducted |
na |
20 |
Average balance of debt interests |
na |
21 |
Capitalised interest returned |
na |
22 |
Book values |
na |
23 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
24 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS |
False |
25 |
Did you enter into a deferred foreign currency payment arrangement in relation to this transaction |
False |
26 |
Foreign Currency Reporting Type |
na |
27 |
Foreign Currency Code |
na |
28 |
Amount of foreign exchange losses deducted for the transaction/RAS |
0 |
29 |
Foreign Currency Code |
na |
30 |
Amount of foreign exchange gains returned for the transaction/RAS |
0 |
31 |
Foreign Currency Code |
na |
32 |
What transfer pricing/capital asset pricing methodology has been applied to the transaction/RAS? |
CUP |
33 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
34 |
If the reporting entity is a bank and transaction is in a RAS, has the special short-term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS? |
False |
35 |
If the reporting entity is a bank and this transaction is in a RAS, has the special short-term tenor rule for short term derivatives been applied to this RAS? |
False |
36 |
If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS? |
False |
37 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
38 |
Is this transaction/RAS covered by a category on the Exclusions List? |
False |
39 |
What category of the Exclusions List applies to this transaction/RAS? |
na |
40 |
Transaction Comments |
[Comments] |
The expenditure Aus Co incurred for fees and commissions paid to Singapore Co for services provided to Aus Co in connection with sale of the iron ore is expenditure for services provided by an IRP which will be shown for the relevant services transaction. This is covered in Example 4.
End of example
Example 2: Purchases of homewares from Irish IRP
Aus Co is a company that is resident in Australia for tax purposes.
Aus Co has an income tax year ending 30 June.
Aus Co’s functional currency for Australian tax purposes is Australian dollars.
During the income year Aus Co purchases a range of homeware and kitchen goods from an Irish subsidiary (Ireland Co) of its ultimate UK parent company, involving eight separate shipments of goods, under the terms of an umbrella procurement agreement and associated specific agreement documentation with Ireland Co.
The eight shipments were of the same kinds of goods and the purchase of the goods were on the same terms except for date, volume, price and delivery. The purchase of the goods in the eight shipments from the same IRP were therefore in the same RAS in accordance with Appendix 8.
The aggregate purchase price payable by Aus Co to Ireland Co for these sales was US$12 million as recorded in Aus Co’s accounting records. The Australian dollar equivalent of the total of the US dollar purchase price on the date of billing was $15 million as recorded in Aus Co’s accounting records.
Under the terms of the procurement and sale agreements with Ireland Co, the purchase price payable by Aus Co was due for payment by Aus Co 60 days after billing. For all shipments Aus Co satisfied payment of the purchase price in accordance with the terms of the procurement and sale agreements.
Aus Co returned assessable foreign exchange gains of $200,000 and deducted foreign exchange losses of $150,000 under Subdivision 775-B of the ITAA 1997 during the income year for foreign exchange gains and foreign exchange losses made as a result of fluctuations in the AUD/USD exchange rate between the date of billing and the date of payment by Aus Co for the purchase of the homeware goods.
Aus Co did not have any revenue or any other expenditure as recorded in Aus Co’s accounting records for the purchase of the homeware goods from Ireland Co.
Aus Co did not provide or obtain any consideration of a capital nature in relation to the purchase of the homeware goods from Ireland Co.
Aus Co did not provide or obtain any non-monetary consideration in relation to the purchase of the homeware goods from Ireland Co.
Aus Co shows the transaction category for the purchase of the homeware goods from Ireland Co by using the transaction category ‘tangible property of a revenue nature', which covers international related party dealings involving tangible property of a revenue nature, including sale or purchase of trading stock or raw materials.
Aus Co has applied the transfer pricing methodology ‘Comparable uncontrolled price method’ to this transaction/RAS.
Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of this transaction/RAS.
The total amount returned in the income year by Aus Co in connection with this tangible goods transaction/RAS is less than A$2 million or less than 2% of Aus Co’s total IRPD expenditure.
The homeware and kitchen goods were not purchased from Ireland Co in connection with:
- the use or enjoyment of any trademark, patent, design, copyright, other intellectual property, secret formula or process or similar property or rights, or
- any other IRP agreement.
The agreements in the RAS under which Aus Co purchases the homeware and kitchen goods from Ireland Co solely cover:
- the sale or purchase of the homeware and kitchen goods
- rights and obligations in connection with effecting the purchase of the homeware and kitchen goods.
This tangible goods transaction/RAS therefore satisfies the category of ‘Low value / low risk sale and purchase tangible trading stock agreements’ on the exclusions list.
Aus Co is not an OBU.
Ireland Co is a company that is resident in Ireland for tax purposes.
Ireland Co does not carry on its business operations through a permanent establishment.
Aus Co completes the Questions for the transaction/RAS in this example based on its accounting records as shown in the following table.
Table 3: Completed entry – Purchase of homeware goods from Ireland Co (Tangible property of a revenue nature)Question no. |
Question label |
Response |
|---|---|---|
1 |
Transaction Identifier |
[Transaction ID] |
2 |
Related Transaction Identifier(s) |
[Transaction IDs] |
3 |
Transaction category |
TPRN |
4 |
Is this transaction part of a RAS? |
True |
5 |
How many transactions are part of the RAS? |
Moderate |
6 |
Australian counterparty name |
[Australian counterparty name] |
7 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
8 |
Name of IRP the non-resident counterparty to the transaction/RAS |
Ireland Co |
9 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
IE |
10 |
Was the transaction/RAS entered into by the non-resident counterparty in the course of its business operations carried on through a permanent establishment in a different country to its country of tax residence? |
False |
11 |
Country of permanent establishment counterparty |
na |
12 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
13 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
14 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
15 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
16 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS |
15000000 |
17 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS |
0 |
18 |
Average balance of debt interests |
na |
19 |
Capitalised interest deducted |
na |
20 |
Average balance of debt interests |
na |
21 |
Capitalised interest returned |
na |
22 |
Book values |
na |
23 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
24 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
25 |
Did you enter into a deferred foreign currency payment arrangement in relation to this transaction |
True |
26 |
Foreign Currency Reporting Type |
1 |
27 |
Foreign Currency Code |
USD |
28 |
Amount of foreign exchange losses deducted for the transaction/RAS |
na |
29 |
Foreign Currency Code |
na |
30 |
Amount of foreign exchange gains returned for the transaction/RAS |
na |
31 |
Foreign Currency Code |
na |
32 |
What transfer pricing / capital asset pricing methodology has been applied to the transaction/RAS? |
CUP |
33 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
34 |
If the reporting entity is a bank and transaction is in a RAS, has the special short term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS? |
False |
35 |
If the reporting entity is a bank and this transaction is in a RAS, has the special short term tenor rule for short term derivatives been applied to this RAS? |
False |
36 |
If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS? |
False |
37 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
38 |
Is this transaction/RAS covered by a category on the Exclusions List? |
True |
39 |
What category of the Exclusions List applies to this transaction/RAS? |
LVLRSA |
40 |
Transaction Comments |
[Comments] |
End of example
Example 3: Purchases of homewares from Irish IRP and currency deferred payment arrangement
The facts are the same facts as Example 2, except for the following:
- For two of the eight shipments Aus Co failed to satisfy the payment of the purchase price in accordance with the terms of the procurement and sale agreements. For these two shipments Aus Co made payment of the purchase price 100 days after the date of billing.
- Aus Co completes the Questions for the transaction/RAS in this example based on its accounting records as shown in the following table.
Table 5: Completed entry – Foreign currency deferred payment arrangement for purchase of Tangible Trading Stock (FCDPTTS)
End of example
IRPD service arrangements
For reporting of service arrangements with IRPs, a service arrangement is one that is based on the performance of work by one party for the benefit of another party (refer to Employers Mutual Indemnity Association Ltd v. Federal Commissioner of Taxation [1943] HCA 36; (1943) 68 CLR 165 per Latham CJ at 174). The arrangement may be formal or informal. The reporting entity may be the customer or the provider of the service.
The following kinds of services, for which the service fees or other consideration for the services are royalties, are not included in the transaction category for IRPD service arrangements outlined below:
- the supply of assistance ancillary and subsidiary to, and furnished as a means of enabling application or enjoyment of use of the following kinds of rights, equipment, knowledge or information
- a licence or other use or right to use intellectual property such as trademarks or patents
- the use or right to use industrial, commercial or scientific equipment
- the supply of scientific, technical, industrial or commercial knowledge or information.
These kinds of services are instead included in the transaction category of royalties and are covered in these instructions as part of IRPD Use Rights.
Code |
Description of transaction category |
|---|---|
TRS |
Treasury-related services Any IRPDs in the nature of Treasury-related services in the managing of financial operations, including:
|
MAS |
Management and administration services Any IRPDs in the nature of management and administration services, that:
Administration services exclude transactions relating to financing, marketing or production. |
INSERV |
Insurance services Any IRPDs in the nature of insurance services in the management of insurance contracts (predominantly undertaken through intermediaries). Effectively, the expenditure and revenue will represent intermediaries' commissions for providing an insurance management type service (for example, placement of the insurance portfolio to a third party or providing back office functions). Any premiums or other expenditure incurred or revenue earned or derived in relation to insurance contracts with international related parties should be shown for the transaction category Insurance. |
REINSERV |
Reinsurance services Any IRPDs in the nature of reinsurance services in the management of reinsurance contracts (predominantly undertaken through intermediaries). Effectively, the expenditure and revenue will represent intermediaries' commissions for providing an insurance management type service in relation to reinsurance contracts (for example, placement of the insurance portfolio to a third party or providing back office functions). Any premiums or other expenditure incurred or revenue earned or derived in relation to reinsurance contracts with international related parties should be shown for the transaction category Reinsurance. |
RD |
Research and development services Any IRPDs in the nature of research and development services that are activities associated with the undertaking of research and development services on behalf of a contracting party on a systematic basis in order to develop intellectual property, where the entity providing the research and development services does not take title to any resultant intellectual property created in the provision of the service. |
SAM |
Sales and marketing services Any IRPDs in the nature of sales and marketing services. Sales services include:
Marketing services include activities that involve acquiring new customers or businesses and maintaining a relationship with them, including:
|
SITS |
Software and IT services Any IRPDs in the nature of providing the support and maintenance of software and technology. Transactions relating to the ownership of the software and technology are excluded, such as leasing and rental fees. |
TS |
Technical services Any IRPDs in the nature of technical services that are associated with engineering, architecture, design, project management and mining exploration. |
LS |
Logistics services Any IRPDs in the nature of logistics services that are related to transport, freight, storage, scheduling, sourcing and procurement. |
AM |
Asset management services Any IRPDs in the nature of asset management services that are associated with the management of assets, funds or investments undertaken on a discretionary basis in accordance with an investment strategy, with the provider of the services responsible for both of the following:
|
OS |
Other services Any IRPDs in the nature of services that are not covered by any of the following transaction categories:
|
- Transaction Identifier
Show the Transaction ID for the transaction being reported.
(LCMSF31)
- Related Transaction Identifier(s)
Show all Transaction IDs that are directly connected to the transaction being reported.
(LCMSF206)
- What is the transaction category?
Select the transaction category for the IRPD transaction.
(LCMSF32)
- Is this transaction part of a RAS?
If this transaction is covered by an IRPD agreement in a RAS, indicate True.
Otherwise indicate False.
(LCMSF33)
- How many transactions are part of the RAS?
If the transaction is part of a RAS, indicate the applicable range for the number of the transactions in the same RAS that were current during the income year:
- Low (1–5)
- Moderate (6–50)
- High (51 or more)
(LCMSF35)
- Australian counterparty name
Show the full name of the Australian counterparty (which may be the reporting entity itself) to this transaction/RAS.
(LCMSF207)
- ABN or TFN of the Australian counterparty to the transaction/RAS
Show the ABN or TFN of the Australian counterparty (which may be the reporting entity itself) to the transaction/RAS.
(LCMSF83 and LCMSF84)
- Name of the IRP non-resident counterparty to the transaction/RAS
Show the full name of the IRP non-resident counterparty to this type of IRPD.
The full name to be shown is the complete name of the IRP non-resident counterparty entity. While this would be expected to usually correspond with the name of the relevant party in any associated written agreement documentation, the full correct name of the entity should be shown at Part A even if this is not exactly the same as the name used in any associated written agreement documentation.
(LCMSF37)
- Tax residency of the IRP non-resident counterparty to the transaction/RAS
Show the country codeExternal Link for the country of tax residence of the IRP non-resident counterparty to this transaction/RAS.
(LCMSF38)
- Was the transaction/RAS entered into by the non-resident counterparty in the course of its business operations carried on through a permanent establishment in a different country to its country of tax residence?
Indicate True if the transaction/RAS was entered into by the non-resident counterparty in the course of its business operations carried on through a PE in a different country to its country of tax residence.
Otherwise indicate False.
(LCMSF208)
- Country of permanent establishment of non-resident country
This question applies only if you answer True to Question 10.
Show the country codeExternal Link of the PE.
(LCMSF209)
- Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS
If an amount of a capital nature was paid by the reporting entity in connection with this transaction/RAS during the income year, show this amount based on the reporting entity’s accounting records.
If no amount of a capital nature was paid by the reporting entity in connection with this transaction/RAS during the income year, show zero.
(LCMSF39)
- Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS
If an amount of a capital nature was received by the reporting entity in connection with this transaction/RAS during the income year, show this amount based on the reporting entity’s accounting records.
If no amount of a capital nature was received by the reporting entity in connection with this transaction/RAS during the income year, show zero.
(LCMSF40)
- Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration of a capital nature was provided by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF85)
- Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration of a capital nature was obtained by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF86)
- Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS
Show the amount of expenditure not of a capital nature for income tax purposes in connection with this transaction/RAS during the income year based on the reporting entity’s accounting records.
If there was no amount of expenditure not of a capital nature in connection with this transaction/RAS during the income year, show zero.
(LCMSF41)
- Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS
Show the amount of revenue not of a for income tax purposes in connection with this transaction/RAS during the income year based on the reporting entity’s accounting records.
If there was no amount of revenue not of a capital nature in connection with this transaction/RAS during the income year, show zero.
(LCMSF42)
- Average balance of debt interests
Not applicable.
(LCMSF210)
- Capitalised interest deducted
Not applicable.
(LCMSF211)
- Average balance of debt interests
Not applicable.
(LCMSF212)
- Capitalised interest returned
Not applicable.
(LCMSF213)
- Book values
Not applicable.
(LCMSF214)
- Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration not of a capital nature for income tax purposes was provided by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF44)
- Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS?
If non-monetary consideration not of a capital nature was obtained by the reporting entity in connection with this transaction/RAS during the income year, indicate True.
Otherwise indicate False.
(LCMSF45)
- Did you enter into a deferred foreign currency payment arrangement in relation to this transaction
Indicate True if you have entered into a deferred foreign currency payment arrangement in relation to this transaction.
Otherwise indicate False.
(LCMSF215)
- Foreign Currency Reporting type
This question applies only if you answer True to Question 25.
Please indicate the type of foreign currency deferred payment arrangement entered into:
- short term foreign currency deferred payment arrangements
- longer term foreign currency deferred payment arrangements
If you have indicated 1, then you will need to only provide the Foreign Currency CodeExternal Link at Question 27.
If you have indicated 2, then you will need to show your foreign exchange gains / losses at the relevant IRPD foreign currency deferred payment arrangements transaction category.
(LCMSF216)
- Foreign Currency Code
This question applies only if you answer True to Question 25 and indicate that you entered into a short-term foreign currency deferred payment arrangement at Question 26.
Show the Foreign Currency CodeExternal Link applicable to the foreign currency deferred payment arrangement.
(LCMSF217)
- Amount of foreign exchange losses deducted for the transaction/RAS
This question applies only if you answer False to Question 25.
Show the amount of foreign exchange losses deducted for income tax purposes by the reporting entity in connection with this transaction/RAS under Division 775 of the ITAA 1997 or, if applicable, the taxation of financial arrangements (TOFA) provisions in Division 230 of the ITAA 1997 for the income year.
For more information about the circumstances in which foreign exchange gains are assessable and foreign exchange losses are deductible for Australian income tax purposes, refer to Appendix 6.
If there was no foreign exchange loss deducted for income tax purposes in connection with this transaction/RAS for the income year, show zero.
(LCMSF87)
- Foreign Currency Code
This question applies only if you answer False to Question 25.
Show the Foreign Currency CodeExternal Link in relation to foreign exchange losses deducted for the transaction/RAS
(LCMSF219)
- Amount of foreign exchange gains returned for the transaction/RAS
This question applies only if you answer False to Question 25.
Show the amount of foreign exchange gains assessable for income tax purposes in connection with this transaction/RAS under Division 775 of the ITAA 1997 or, if applicable, the TOFA provisions in Division 230 of the ITAA 1997 for the income year.
For more information about the circumstances in which foreign exchange gains are assessable and foreign exchange losses are deductible for Australian income tax purposes, refer to Appendix 6.
If there was no foreign exchange gain assessable for income tax purposes in connection with this transaction/RAS for the income year, show zero.
(LCMSF43)
- Foreign Currency Code
This question applies only if you answer False to Question 25.
Show the Foreign Currency CodeExternal Link in relation to foreign exchange gains returned for the transaction/RAS
(LCMSF221)
- What transfer pricing / capital asset pricing methodology has been applied to this transaction/RAS?
If the reporting entity does not know which transfer pricing methodology has been applied to this transaction/RAS, select the code UNKT (Unknown TP Method).
If the reporting entity does not know which capital asset pricing methodology has been applied to this transaction/RAS, select the code UNKC (Unknown CAP Method).
(LCMSF46)
- What level of transfer pricing documentation has been prepared for this transaction/RAS?
The level of transfer pricing documentation refers to the aggregate dollar amount of this transaction/RAS for which the reporting entity has prepared relevant transfer pricing documentation, expressed as a percentage of total dollar value of this transaction/RAS.
1 = 0%
2 = 1% to less than 25%
3 = 25% to less than 50%
4 = 50% to less than 75%
5 = 75% to less than 100%
6 = 100%
If this transaction/RAS meets the conditions for one of the following Simplified Transfer Pricing Record Keeping (STPRK) options, show the code(s) for the STPRK option applied to the transaction/RAS:
10 = STPRK (Intra-Group Services) *
11 = STPRK (Management & Administration Services) *
12 = STPRK (Technical Services)
15 = Green Zone (PCG 2017/1)
* Note: for income years beginning on or after 1 July 2019, the STPRK option relating to Management & Administration Services is no longer applicable. This option will be consolidated into the new STPRK option relating to Low value adding intra-group services.
If this transaction/RAS meets the conditions for the STPRK option relating to Low value adding intra-group services, show code 10 to indicate that this option has been applied to the transaction/RAS. Code 10 will be replaced with ‘STPRK (Low Value Adding Intra-group Services)’ for future reporting periods.
(LCMSF47)
- If the reporting entity is a bank and this transaction is in a RAS, has the special short-term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS?
Always indicate False if the transaction category is not ordinary borrowings and ordinary loans.
(LCMSF88)
- If the reporting entity is a bank and this transaction is in a RAS, has the special short-term tenor rule for short term derivatives been applied to this RAS?
Always indicate False if the transaction category is not derivatives.
(LCMSF128)
- If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS?
Always indicate False if the transaction category is not derivatives.
(LCMSF129)
- If the reporting entity is an OBU, is this transaction/RAS an OB activity?
If the reporting entity is an OBU and this transaction/RAS is an OB activity under sections 121D and 121EAA of the ITAA 1936, indicate True.
Otherwise indicate False.
(LCMSF63)
- Is this transaction/RAS covered by a category on the Exclusions List?
If this transaction/RAS is covered by one of the following categories on the exclusions list, indicate True.
- STPRKIGS – Simplified Transfer Pricing Record Keeping (Intra-Group Services) *
- STPRKMAS – Simplified Transfer Pricing Record Keeping (Management & Administration Services) *
- STPRKTS – Simplified Transfer Pricing Record Keeping (Technical Services)
- RUESA – Reimbursement under employee secondment agreements
- LVLRSA – Low value / low risk service agreements
* Note: for income years beginning on or after 1 July 2019, the STPRK option relating to Management & Administration Services is no longer applicable. This option will be consolidated into the new STPRK option relating to Low value adding intra-group services.
If this transaction/RAS meets the conditions for the STPRK option relating to Low value adding intra-group services, indicate True for this question, and select STPRKIGS at question 39. STPRKIGS will be replaced with ‘STPRKIGS – Simplified Transfer Pricing Record Keeping (Low Value Adding Intra-group Services)’ for future reporting periods.
Otherwise indicate False.
(LCMSF48)
- What category of the Exclusions List applies to this transaction/RAS?
If you have indicated True to Question 38, select the category on the exclusions list which applies to this transaction/RAS.
(LCMSF49)
- Transaction Comments
Provide any relevant comments in respect of the transaction/RAS.
(LCMSF222)
Reporting examples: IRPD service arrangements
Example 4: Sales and marketing services provided by Singapore IRP
The facts are the same as the facts in Example 1.
Singapore Co has entered into agreements with Aus Co to provide services in relation to the sales and marketing of iron ore to third party customers, including customer support services.
Singapore Co provided services to Aus Co in 18 individual service transactions during the income year. All the services Singapore Co provided to Aus Co were of the same kind and were provided under agreements with Aus Co on the same terms except for date, price, volume and delivery. The individual service transactions are therefore in the same RAS in accordance with Appendix 8.
All the services Singapore Co provided to Aus Co fall within the Sales and marketing services transaction category.
The fees and commissions payable by Aus Co to Singapore Co for these services was payable in Australian dollars. The aggregate service fees and commissions payable by Aus Co to Singapore Co for these services for the income year was $17 million as shown in Aus Co’s accounting records.
Aus Co did not pay or obtain any consideration of a capital nature in relation to the provision of the services by Singapore Co.
Aus Co did not receive or obtain any non-monetary consideration in relation to the provision of the services by Singapore Co.
Aus Co has applied the transfer pricing methodology ‘Cost plus method’ to this transaction/RAS.
Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of this transaction/RAS.
The total amount deducted in the income year by Aus Co in connection with this services transaction/RAS is not less than A$2 million or less than 2% of Aus Co’s total IRPD expenses, so the transaction/RAS does not satisfy the category of ‘Low value / low risk services agreements’ on the exclusions list.
Aus Co completes the questions for the services transaction/RAS in this example based on its accounting records as shown in the following table.
Table 7: Completed entry – Provision of services by Singapore IRP (Sales and marketing services)Question no. |
Question label |
Response |
|---|---|---|
1 |
Transaction Identifier |
[Transaction ID] |
2 |
Related Transaction Identifier(s) |
[Transaction IDs] |
3 |
Transaction category |
SAM |
4 |
Is this transaction part of a RAS? |
True |
5 |
How many transactions are part of the RAS? |
Moderate |
6 |
Australian counterparty name |
[Australian counterparty name] |
7 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
8 |
Name of the IRP non-resident counterparty to the transaction/RAS |
Singapore Co |
9 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
SG |
10 |
Was the transaction/RAS entered into by the non-resident counterparty in the course of its business operations carried on through a permanent establishment in a different country to its country of tax residence? |
False |
11 |
Country of permanent establishment counterparty |
na |
12 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
13 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
14 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
15 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
16 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS |
17000000 |
17 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS |
0 |
18 |
Average balance of debt interests |
na |
19 |
Capitalised interest deducted |
na |
20 |
Average balance of debt interests |
na |
21 |
Capitalised interest returned |
na |
22 |
Book values |
na |
23 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
24 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
25 |
Did you enter into a deferred foreign currency payment arrangement in relation to this transaction |
False |
26 |
Foreign Currency Reporting Type |
na |
27 |
Foreign Currency Code |
na |
28 |
Amount of foreign exchange losses deducted for the transaction/RAS |
0 |
29 |
Foreign Currency Code |
na |
30 |
Amount of foreign exchange gains returned for the transaction/RAS |
0 |
31 |
Foreign Currency Code |
na |
32 |
What transfer pricing / capital asset pricing methodology has been applied to the transaction/RAS? |
CP |
33 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
34 |
If the reporting entity is a bank and transaction is in a RAS, has the special short-term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS? |
False |
35 |
If the reporting entity is a bank and this transaction is in a RAS, has the special short-term tenor rule for short term derivatives been applied to this RAS? |
False |
36 |
If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS? |
False |
37 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
38 |
Is this transaction/RAS covered by a category on the Exclusions List? |
False |
39 |
What category of the Exclusions List applies to this transaction/RAS? |
na |
40 |
Transaction Comments |
[Comments] |
Example
Example 5: R&D and other services provided to Swiss IRP
Aus Co is a company resident in Australia for tax purposes.
Aus Co has an income tax year ending 30 June.
Aus Co’s functional currency for Australian tax purposes is Australian dollars
During the income year, Aus Co via agreement (the Agreement), assigned its beneficial interest in certain patents to an IRP resident for tax purposes in Switzerland (Swiss Co) for A$100m.
Under the Agreement, Swiss Co granted Aus Co a non-exclusive licence for 10 years to use the same patents for:
- an upfront payment of A$10 million
- an annual licence fee of A$5 million.
Under the Agreement, Aus Co agreed to provide services to Swiss Co in relation to the development of new technology and patents.
There was a current agreement, entered into prior to the income year, under which Aus Co was granted a non-exclusive right to use trademarks by an IRP resident for tax purposes in Ireland (Irish Co), for a licence fee of US$15 million per annum.
All the services provided by Aus Co to Swiss Co during the income year under the Agreement fall within the transaction category Research and development services.
The service fees payable to Aus Co by Swiss Co for these R&D services was payable in Australian dollars. The aggregate service fees payable by Swiss Co for these R&D services for the income year was $8 million as shown in Aus Co’s accounting records.
The total amount returned in the income year by Aus Co in connection with this R&D services transaction/RAS is not less than A$2 million or less than 2% of Aus Co’s total IRPD revenue, so the R&D services transaction/RAS does not satisfy the category of ‘Low value / low risk services agreements’ on the exclusions list.
Aus Co has also entered into a separate agreement with Swiss Co under which Aus Co provides Swiss Co with customer support services in connection with products sold by Swiss Co to Australian customers.
All the customer support services provided by Aus Co to Swiss Co during the income year under this separate agreement fall within the Sales and marketing services transaction category.
The service fees payable to Aus Co by Swiss Co for these sales and marketing services was payable in Australian dollars. The aggregate service fees payable to Aus Co by Swiss Co for these sales and marketing services for the income year was $1 million as shown in Aus Co’s accounting records.
The total amount returned in the income year by Aus Co for amounts payable by Swiss Co for sales and marketing services is less than A $2 million. These sales and marketing services were not provided in connection with:
- the use or enjoyment of any trademark, patent, design, copyright, other intellectual property, secret formula or process or similar property or rights, or
- any other IRP agreement.
The separate agreement under which Aus Co provides Swiss Co with the customer support services solely covers:
- the provision or receipt of services
- rights and obligations in connection with effecting the provision or receipt of the services.
The sales and marketing services transaction/RAS therefore satisfies the category of 'Low value / low risk services agreements' on the exclusions list.
The R&D services provided by Aus Co to Swiss Co and the sales and marketing services provided by Aus Co to Swiss Co cannot be included in the same RAS because the services provided are not the same kind of services. For more information about when IRP transactions are covered by agreements that can be included in the same RAS, refer to Appendix 8.
Aus Co did not pay or obtain any consideration of a capital nature in relation to the provision of any of the services it provides to Swiss Co.
Aus Co did not receive or obtain any non-monetary consideration in relation to the provision of any of the services it provides to Swiss Co.
Aus Co has applied the transfer pricing methodology ‘Cost plus method’ to both the R&D services transaction/RAS and the sales and marketing services transaction/RAS.
Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of the R&D services transaction/RAS and the sales and marketing services transaction/RAS.
Aus Co did not enter into any deferred foreign currency payment arrangements.
Neither Swiss Co nor Irish Co carry on their business operations through a permanent establishment.
Aus Co completes the Questions for the services transactions / RAS in this example based on its accounting records as shown in the following tables.
Table 8: Completed entry – Provision of services to Swiss IRP (R&D services)Table 9: Completed entry – Provision of services to Swiss IRP (Sales & marketing services)Question no. |
Question label |
Response |
|---|---|---|
1 |
Transaction Identifier |
[Transaction ID] |
2 |
Related Transaction Identifier(s) |
[Transaction IDs] |
3 |
Transaction category |
SAM |
4 |
Is this transaction part of a RAS? |
False |
5 |
How many transactions are part of the RAS? |
na |
6 |
Australian counterparty name |
[Australian counterparty name] |
7 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
8 |
Name of the IRP non-resident counterparty to the transaction/RAS |
Swiss Co |
9 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
CH |
10 |
Was the transaction/ RAS entered into by the non-resident counterparty in the course of its business operations carried on through a permanent establishment in a different country to its country of tax residence? |
False |
11 |
Country of permanent establishment counterparty |
na |
12 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
13 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
14 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
15 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
16 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS |
0 |
17 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS |
1000000 |
18 |
Average balance of debt interests |
na |
19 |
Capitalised interest deducted |
na |
20 |
Average balance of debt interests |
na |
21 |
Capitalised interest returned |
na |
22 |
Book values |
na |
23 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
24 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
25 |
Did you enter into a deferred foreign currency payment arrangement in relation to this transaction |
False |
26 |
Foreign Currency Reporting Type |
na |
27 |
Foreign Currency Code |
na |
28 |
Amount of foreign exchange losses deducted for the transaction/RAS |
0 |
29 |
Foreign Currency Code |
na |
30 |
Amount of foreign exchange gains returned for the transaction/RAS |
0 |
31 |
Foreign Currency Code |
na |
32 |
What transfer pricing / capital asset pricing methodology has been applied to the transaction/RAS? |
CP |
33 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
34 |
If the reporting entity is a bank and transaction is in a RAS, has the special short-term tenor rule for ordinary borrowings and ordinary loans been applied to this RAS? |
False |
35 |
If the reporting entity is a bank and this transaction is in a RAS, has the special short-term tenor rule for short term derivatives been applied to this RAS? |
False |
36 |
If the reporting entity is a bank and this transaction is in a RAS, has the special rule for FX derivatives been applied to this RAS? |
False |
37 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
38 |
Is this transaction/RAS covered by a category on the Exclusions List? |
True |
39 |
What category of the Exclusions List applies to this transaction/RAS? |
LVLRSA |
40 |
Transaction Comments |
[Comments] |
End of example