International dealings schedule
Where the relevant information is reported in the tax return, you must complete an International dealings schedule 2016 (NAT 73345).
You need to complete an International dealings schedule 2016 if, in the 2016 income year:
- you had attributed foreign income
- the aggregate value of your transactions or dealings with international related parties (including the value of any property/service transferred or the balance of any loans) was greater than $2 million
- the thin capitalisation provisions affected you, or
- you had overseas interest or royalty expenses.
You do not need to complete an International dealings schedule 2016 if any of the above points apply to you, and the partnership was a subsidiary member of a consolidated group or MEC group for the entire income year. The responsibility for preparing the schedule will rest on the head company of the consolidated group or MEC group.
Where a return is required because the partnership had a period in the income year when it was not a member of a consolidated group or MEC group (a non-membership period), and any of the above points applied in that period, the partnership should complete an International dealings schedule 2016 where the thin capitalisation rules affect the partnership during the non-membership period.
For more information, see Appendix 3 and the International dealings schedule instructions 2016.
Last modified: 10 Aug 2016QC 48217