2025 Tax time summary of non-individual form changes

New

Y

Build to rent capital works deduction 4%

Removed

J

Small business skills and training boost

Removed

K

Small business energy incentive

Changed

Heading

Overseas interest and Australian branch operations

Changed

Z

Did you have branch operations in Australia or overseas, or a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust?

Changed

Heading

Thin capitalisation and debt deduction creation

Changed

O

Were the thin capitalisation or debt deduction creation rules applicable to you?

Changed

C

Overseas interest and Australian branch operations

Changed

C

Did the fund have branch operations in Australia or overseas, or a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust?

New

Y

Build to rent capital works deduction at 4%

Change to question

S

Did you have branch operations in Australia or overseas, or a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust?

Change to question

O

Were the thin capitalisation or debt deduction creation rules applicable to you?

Removed

C

Small business energy incentive

Removed

A

Small business skills and training boost

New

Is the trust a Withholding MIT?

New

Is the trust a stapled MIT?

New

MIT type – additional codes

New

Y

Build to rent capital works deduction at 4%

Changed

S

Did you have branch operations in Australia or overseas, or a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust?

Changed

O

Were the thin capitalisation or debt deduction creation rules applicable to you?

Removed

Item 52

Small business bonus deductions

Removed

A

Small business skills and training boost

Removed

C

Small business energy incentive

New

MIT Type

Changed

Were the thin capitalisation or debt deduction creation rules applicable to you?

New

Build to rent capital works deduction at 4%

New

Is the Trust a withholding MIT?

Changed

Excluded from NCMI (other than build to rent)

New

BTR excluded from NCMI – non primary production

Changed

Excluded from NCMI (other than build to rent)

New

BTR excluded from NCMI capital gains

Removed

Section: Small business bonus deductions

Removed

Small business energy incentive

Changed

Were the thin capitalisation or debt deduction creation rules applicable to you?

New

Build to rent capital works deduction at 4%

Removed

Section: Small business bonus deductions

Removed

Small business skills and training boost

Removed

Small business energy incentive

New

Is the trust a Withholding MIT?

New

MIT Type

Changed

Excluded from NCMI (other than build to rent)

New

BTR excluded from NCMI – non primary production

Changed

Excluded from NCMI (other than build to rent)

New

BTR excluded from NCMI capital gains

Removed

19a

Did you have a financial arrangement for the purposes of Division 230 that did not give rise to a debt interest for the purposes of Division 974?

Changed

30c

Minor change to question and include new answer at item C:

You were an Australian resident entity that is neither an inward nor outward investing entity.

Changed/Removed

32b and 33

Question 32b in the International Dealings Schedule 2024 is now question 33 in the International Dealings Schedule 2025.

Question 33 in the International Dealings Schedule 2024 has been removed.

Changed

35a

Minor change to the question:

If you were a general class investor, provide your tax EBITDA information.

Changed

35b

Minor change to the question:

Did you rely on the group ratio test?

Changed

35c

Minor change to the question:

Did you rely on the third party debt test?

Changed

35d

Minor change to the question:

Were you, or a member of your tax consolidated group, a special purpose entity subject to section 820-39 of the ITAA 1997?

New

35e

Do you have a FRT disallowed amount from a prior income year?

New

35e C

FRT disallowed amount applied in this income year

New

35e D

FRT disallowed amount to be carried forward to future income year

New

35e E

Were you the head company of a tax consolidated group or MEC group?

New

35e F

Were FRT disallowed amounts transferred to you, as a head company, by joining entities under section 820-590, during the income year?

Changed

36

Minor change to the question:

If you were an authorised deposit taking institution (ADI), provide the following information where applicable

Label A removed.

New label L with heading 'If you relied on the arm's length capital test, provide your arm's length capital amount'

Changed

37

Change to the question and labels:

If you were an Australian plantation forestry entity, provide the following information where applicable

Label A removed.

Change the subheading above labels B and I from All non-ADI entities to 'All Australian plantation forestry entities'

New label O with heading 'If you relied on the arm’s length debt test, provide your arm’s length debt amount'

Changed/Removed

37a, 38 and 38a

Changes to the question and labels:

Question 38 and 38a in the International Dealings Schedule 2024 has been removed.

Question 37a in the International Dealings Schedule 2024 is now question 38 in the International Dealings Schedule 2025.

Change to question for Question 38:

If you were a financial entity (non-ADI) for the income year, provide the following information where applicable

Label A removed.

Renumbered/Changed

39a

Question 39a has been renumbered to Question 53 in the International Dealings Schedule 2025 and has changed (see below).

New

52

Were the debt deduction creation rules applicable to you?

Renumbered/Changed

53

Q39a in the International Dealings Schedule 2024 has been renumbered to Question 53 in the International Dealings Schedule.

Changes to question:

Did you restructure or replace an arrangement during the current or prior income year which would have satisfied the conditions in subsections 820-423A(2) or (5) if the arrangement was still in place and the debt deduction creation rules were applicable? Disregard paragraphs 820-423A(2)(g) and (5)(f) when answering this question.

New label B:

Provide the information for the top three most material restructuring events

New

54

In a prior income year, did you directly or indirectly acquire a CGT asset, or legal or equitable obligation, from an associate pair other than a CGT asset covered by section 820-423AA?

New

54B

Were any of your debt deductions for the current income year, wholly or partly, in relation to the acquisition or holding of the CGT asset(s), or legal or equitable obligation(s)?

New

54C

Were any of those debt deductions referable to an amount paid or payable, either directly or indirectly, to an associate pair covered by paragraph 820-423A(2)(e)?

New

54D

Total debt deductions disallowed due to subsection 820-423A(2)

New

54E

Provide the following information for the top three most material arrangements for which debt deductions are disallowed due to subsection 820-423A(2):

New

55

In a prior income year, did you make one or more payments or distributions covered by subsection 820-423A(5A), directly or indirectly, to an associate pair?

New

55B

Did you use a financial arrangement to fund or facilitate the funding of any of those payments or distributions?

New

55C

Were any of your debt deductions for the current income year, wholly or partly, in relation to those financial arrangements?

New

55D

Were any of those debt deductions referable to an amount paid or payable, either directly or indirectly, to an associate pair covered by paragraph 820-423A(5)(e)?

New

55E

Total debt deductions disallowed due to subsection 820-423A(5)

New

55F

Provide the following information for the top three most material arrangements for which debt deductions are disallowed due to subsection 820-423A(5):

New

56

In the current income year, did you directly or indirectly acquire a CGT asset, or legal or equitable obligation, from an associate pair?

New

56B

Total value of associate pair acquisitions for the income year

New

56C

Did any of the exceptions in section 820-423AA apply to the assets your acquired?

New

56E

Were any of your debt deductions for the current income year, wholly or partly, in relation to the acquisition or holding of the CGT asset(s) or legal or equitable obligation(s) in the current year, other than a CGT asset covered by an exception in section 820-423AA?

New

56F

Were any of those debt deductions referable to an amount paid or payable, either directly or indirectly, to an associate pair covered by paragraph 820-423A(2)(e)?

New

56G

Total debt deductions disallowed due to subsection 820-423A(2)

New

56H

Provide the following information for the top three most material arrangements for which debt deductions are disallowed due to subsection 820-423A(2):

New

57

In the current income year, did you make one or more payments or distributions covered by subsection 820-423A(5A), directly or indirectly, to an associate pair?

New

57B

Total value of prescribed payments for the income year

New

57C

Did you use a financial arrangement to fund or facilitate the funding of any of those payments or distributions?

New

57D

Were any of your debt deductions for the current income year, wholly or partly, in relation to those financial arrangements?

New

57E

Were any of those debt deductions referable to an amount paid or payable, either directly or indirectly, to an associate pair covered by paragraph 820-423A(5)(e)?

New

57F

Total debt deductions disallowed due to subsection 820-423A(5)

New

57G

Provide the following information for the top three most material arrangements for which debt deductions are disallowed due to subsection 820-423A(5):

New

58

Were any of your debt deductions, for the current income year, disallowed by subsection 820-423A(1) because you were either:

(a) an associate pair of an acquirer or of an associate disposer for an acquisition covered by subsection 820-423A(2); or

(b) an associate pair of the payer or of an associate recipient for a payment or distribution covered by subsection 820-423A(5)?

New

58B

Total debt deductions disallowed

New

58C

Provide information of the 3 most material acquisitions or payments/distributions for which your debt deductions are disallowed under the debt deduction creation rules:

Removed

10

Has your entity excluded from its thin capitalisation calculations of debt capital any value of a debt interest that has been treated wholly, or partly, as equity under accounting standards?

Changed

17

Minor changes.

Changed

22

Changes made to the comments field to align with local file short form lodgment.

Changed

23

Changes made to the comments field.

Changed

44

Adjustment to subcategories, minor edits and changes to the comments field to align with local file short form lodgement.

Changed

45

Adjustment to subcategories, minor edits and changes to the comments field to align with local file short form lodgement, see Practical Compliance Guideline PCG 2024/1 Intangibles migration arrangements.

New

46

New question: application of certain aspects of the 'liable entity' and 'hybrid payer' definitions to your arrangements (Taxation Determination TD 2024/4).

New

47

New question: restructure(s) in response to the debt deduction creation rules (DDCR) in Subdivision 820-EAA of the ITAA 1997.