|
Code |
Description of transaction category |
|---|---|
|
ASIP |
Assignment of IP Any IRPD in the nature of assignment of intellectual property. Intellectual property includes:
|
|
IOSH |
Issue of ordinary shares The issue of ordinary shares to any IRP. |
|
AOSH |
Assignment of ordinary shares Any IRPD in the nature of assignment of ordinary shares. |
|
IEIOOS |
Issue of equity interest other than ordinary shares Any IRPD in the nature of an issue of an equity interest other than ordinary shares. |
|
AQIOS |
Assignment of equity interest other than ordinary shares Any IRPD in the nature of an assignment of an equity interest other than ordinary shares. |
|
ASSD |
Assignment of debts Any IRPD in the nature of an assignment of debt receivables or loan receivables (not liabilities). |
|
ASSL |
Assignment of liabilities Any IRPD in the nature of an assignment of liabilities. |
|
ASSBC |
Assignment of benefit of contracts (excluding assignment of equity interests, debts or IP) Any IRPD in the nature of an assignment of benefits or rights under contracts but excluding the following transaction categories:
|
|
ASSOPR |
Assignment of other intangible property or rights Any IRPD in the nature of an assignment of other intangible property or rights, but excluding the following transaction categories:
|
- 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)
- 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)
- 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 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 not of a capital nature in connection with this transaction/RAS during the income year, show zero.
(LCMSF42)
- 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)
- Amount of foreign exchange losses deducted for the transaction/RAS
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 3.
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)
- Amount of foreign exchange gains returned for the transaction/RAS
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.
If there was no foreign exchange gain assessable for income tax purposes in connection with this type of IRPD for the income year, show zero.
(LCMSF43)
- 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%
This transaction/RAS will not meet the conditions for any of the Simplified Transfer Pricing Record Keeping (STPRK) options in PCG 2017/2 Simplified Transfer Pricing Record Keeping Options, since it is not a services or loan arrangement and it involves an IRPD of a capital nature.
(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 short term tenor 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?
Always indicate False since acquisition or disposal of intangible property of a non-revenue (capital) nature is not an OB activity under section 121D of the ITAA 1936.
(LCMSF63)
- Is this transaction/RAS covered by a category on the exclusions list?
If this transaction/RAS is covered by the IOS – Issue of Ordinary Shares category on the exclusions list, indicate True.
Otherwise indicate False.
(LCMSF48)
- What category of the exclusions list applies to this transaction/RAS?
If the transaction/RAS is covered by the IOS – Issue of Ordinary Shares category on the exclusions list and you have indicated True at Question 23, select the code IOS.
Otherwise indicate False.
(LCMSF49)
Reporting example: IRPDs involving disposal or acquisition of intangible property of a non-revenue (capital nature)
Example 14: Assignment of patents to Swiss IRP
The facts are the same as the facts in Example 7.
During the income year Aus Co assigned its beneficial interest in certain patents to an IRP resident for tax purposes in Switzerland (Swiss Co) for A$100 million.
Aus Co did not provide or obtain any non-monetary consideration in relation to the assignment of its beneficial interest in the patents.
Aus Co has applied the capital asset pricing methodology ‘Directors Valuation’ to the payment the assignment of its beneficial interest in the patents.
Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of the assignment of its beneficial interest in the patents.
Aus Co completes the questions for the IRP transactions/RAS in this example based on its accounting records as shown in the following tables.
Table 54: Completed entry – Assignment of patents to Swiss Co (Assignment of IP)
|
Question no. |
Question label |
Response |
|---|---|---|
|
na |
Local file – Part A Transaction Identifier |
[Transaction ID] |
|
1 |
Transaction category |
ASIP |
|
2 |
Is this transaction part of a RAS? |
False |
|
3 |
How many transactions are part of the RAS? |
na |
|
4 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
|
5 |
Name of the IRP non-resident counterparty to the transaction/RAS |
Swiss Co |
|
6 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
CH |
|
7 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
|
8 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
100000000 |
|
9 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
10 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
11 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity deducted for income tax purposes |
0 |
|
12 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity returned as assessable for income tax purposes |
0 |
|
13 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
14 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
15 |
Amount of foreign exchange losses deducted for the transaction/RAS |
0 |
|
16 |
Amount of foreign exchange gains returned for the transaction/RAS |
0 |
|
17 |
What transfer pricing / capital asset pricing methodology has been applied to the transaction/RAS? |
DVAL |
|
18 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
|
19 |
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 |
|
20 |
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 |
|
21 |
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 |
|
22 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
|
23 |
Is this transaction/RAS covered by a category on the Exclusions List? |
False |
|
24 |
What category of the Exclusions List applies to this transaction/RAS? |
na |
End of example
Example 15: Acquisition of ordinary shares in Hong Kong subsidiary from US IRP, issue of equity interests to Luxembourg IRP and acquisition of ordinary shares issued by New Zealand 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:
- acquired ordinary shares in a Hong Kong subsidiary under a legal assignment from an IRP resident for tax purposes in the US (US Co) for A$100 million
- issued convertible preference shares which are equity interests under Division 974 of the ITAA 1997 to an IRP resident for tax purposes in the Luxembourg (Luxembourg Co) for A$2m
- acquired ordinary shares upon issue of new shares by an IRP resident for tax purposes in New Zealand (NZ Co) for A$1 million.
Aus Co’s functional currency for Australian tax purposes is Australian dollars.
Aus Co is not an OBU.
Aus Co has applied the capital asset pricing methodology ‘Directors Valuation’ in relation to the acquisition of the ordinary shares from US Co, the issue of the convertible preference shares to Luxembourg Co and the acquisition of the issued shares from NZ Co.
Aus Co did not pay or obtain any consideration of a revenue (non-capital) nature for income tax purposes in relation to any of the above transactions.
Aus Co did not provide or obtain any non-monetary consideration in relation to any of the above transactions.
Aus Co has prepared relevant contemporaneous transfer pricing documentation for 100% of the acquisition of the ordinary shares from US Co, the issue of the convertible preference shares to Luxembourg Co and the acquisition of the issued shares from NZ Co.
Aus Co completes the questions for the IRP transactions/RAS in this example based on its accounting records as shown in the following tables.
Table 55: Completed entry – Acquisition of ordinary shares in Hong Kong subsidiary from US IRP (Assignment of ordinary shares)
|
Question no. |
Question label |
Response |
|---|---|---|
|
na |
Local file – Part A Transaction Identifier |
[Transaction ID] |
|
1 |
Transaction category |
AOSH |
|
2 |
Is this transaction part of a RAS? |
False |
|
3 |
How many transactions are part of the RAS? |
na |
|
4 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
|
5 |
Name of the IRP non-resident counterparty to the transaction/RAS |
US Co |
|
6 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
US |
|
7 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
100000000 |
|
8 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
|
9 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
10 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
11 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity deducted for income tax purposes |
0 |
|
12 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity returned as assessable for income tax purposes |
0 |
|
13 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
14 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
15 |
Amount of foreign exchange losses deducted for the transaction/RAS |
0 |
|
16 |
Amount of foreign exchange gains returned for the transaction/RAS |
0 |
|
17 |
What transfer pricing/capital asset pricing methodology has been applied to the transaction/RAS? |
DVAL |
|
18 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
|
19 |
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 |
|
20 |
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 |
|
21 |
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 |
|
22 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
|
23 |
Is this transaction/RAS covered by a category on the Exclusions List? |
False |
|
24 |
What category of the Exclusions List applies to this transaction/RAS? |
na |
Table 56: Completed entry – Issue of convertible preference shares to Luxembourg IRP (Issue of equity interest other than ordinary shares)
|
Question no. |
Question label |
Response |
|---|---|---|
|
na |
Local file – Part A Transaction Identifier |
[Transaction ID] |
|
1 |
Transaction category |
IEIOOS |
|
2 |
Is this transaction part of a RAS? |
False |
|
3 |
How many transactions are part of the RAS? |
na |
|
4 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
|
5 |
Name of the IRP non-resident counterparty to the transaction/RAS |
Luxembourg Co |
|
6 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
LU |
|
7 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
|
8 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
2000000 |
|
9 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
10 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
11 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity deducted for income tax purposes |
0 |
|
12 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity returned as assessable for income tax purposes |
0 |
|
13 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
14 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
15 |
Amount of foreign exchange losses deducted for the transaction/RAS |
0 |
|
16 |
Amount of foreign exchange gains returned for the transaction/RAS |
0 |
|
17 |
What transfer pricing/capital asset pricing methodology has been applied to the transaction/RAS? |
DVAL |
|
18 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
|
19 |
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 |
|
20 |
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 |
|
21 |
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 |
|
22 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
|
23 |
Is this transaction/RAS covered by a category on the Exclusions List? |
False |
|
24 |
What category of the Exclusions List applies to this transaction/RAS? |
na |
Table 57: Completed entry – Acquisition of ordinary shares issued by NZ IRP (Issue of ordinary shares)
|
Question no. |
Question label |
Response |
|---|---|---|
|
na |
Local file – Part A Transaction Identifier |
[Transaction ID] |
|
1 |
Transaction category |
IOSH |
|
2 |
Is this transaction part of a RAS? |
False |
|
3 |
How many transactions are part of the RAS? |
na |
|
4 |
ABN or TFN of the Australian counterparty to the transaction/RAS |
[ABN or TFN] |
|
5 |
Name of the IRP non-resident counterparty to the transaction/RAS |
NZ Co |
|
6 |
Tax residence of the IRP non-resident counterparty to the transaction/RAS |
NZ |
|
7 |
Amount of consideration paid (of a capital nature for income tax purposes) for the transaction/RAS |
1000000 |
|
8 |
Amount of consideration received (of a capital nature for income tax purposes) for the transaction/RAS |
0 |
|
9 |
Was non-monetary consideration provided (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
10 |
Was non-monetary consideration obtained (of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
11 |
Amount of expenditure (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity deducted for income tax purposes |
0 |
|
12 |
Amount of revenue (not of a capital nature for income tax purposes) for the transaction/RAS that the reporting entity returned as assessable for income tax purposes |
0 |
|
13 |
Was non-monetary consideration provided (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
14 |
Was non-monetary consideration obtained (not of a capital nature for income tax purposes) for the transaction/RAS? |
False |
|
15 |
Amount of foreign exchange losses deducted for the transaction/RAS |
0 |
|
16 |
Amount of foreign exchange gains returned for the transaction/RAS |
0 |
|
17 |
What transfer pricing/capital asset pricing methodology has been applied to the transaction/RAS? |
DVAL |
|
18 |
What level of transfer pricing documentation has been prepared for this transaction/RAS? |
6 |
|
19 |
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 |
|
20 |
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 |
|
21 |
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 |
|
22 |
If the reporting entity is an OBU, is this transaction/RAS an OB activity? |
False |
|
23 |
Is this transaction/RAS covered by a category on the Exclusions List? |
True |
|
24 |
What category of the Exclusions List applies to this transaction/RAS? |
na |