Instructions to complete additional information that may be required in the AMIT tax return.
Final tax return
Answer Yes or No as appropriate.
If you do not expect to lodge further AMIT tax returns, enter 'Final trust tax return' in the Additional Information field and explain:
- the reason that further tax returns will not be lodged, and
- the manner of disposal of any assets of the AMIT, if not disclosed elsewhere on the tax return.
Significant global entity
Complete this item if the entity was a significant global entity (SGE) for the income year.
An entity is an SGE if it is:
- a global parent entity with an annual global income of A$1 billion or more
- a member of a group of entities consolidated for accounting purposes, and one of the other group members is a global parent entity with an annual global income of A$1 billion or more, or
- a member of a notional listed company group, and one of the other group members is a global parent entity with an annual global income of A$1 billion or more.
A notional listed company group is a group of entities that would be required to be consolidated for accounting purposes as a single group, on the assumption that an entity of the group were a listed company. Disregard any exceptions in accounting principles that may permit an entity not to consolidate with other entities.
An entity is also an SGE if it is a global parent entity, or a member of an actual or notional accounting consolidated group which includes a global parent entity, and the global parent entity has been given a notice by the Commissioner determining that its annual global income would have been A$1 billion or more for the period had global financial statements been prepared.
Country by country (CBC) reporting entity
Complete this item if the entity was a CBC reporting entity for the income year.
An entity is a CBC reporting entity if it is:
- a CBC reporting parent; or
- a member of a CBC reporting group, and one of the other group members is a CBC reporting parent with an annual global income of A$1 billion or more.
A CBC reporting group may be a group that is consolidated for accounting purposes as:
- a single group, or
- a notional listed company group.
A notional listed company group is a group of entities that would be required to be consolidated for accounting purposes as a single group, on the assumption that an entity of the group were a listed company.
Unlike the SGE definition, the exception to consolidation in the accounting principles related to investment entities is not disregarded; that is, if applicable, when determining whether an entity is a CBC reporting entity, the investment entity exception in the accounting principles should be applied.
If an entity was a CBC reporting entity for the whole or part of the preceding income year, it may have CBC reporting obligations.
Account for electronic funds transfer (EFT)
Direct refund
We need your financial institution details to pay any refund owing to the AMIT, even if you have provided them to us before.
Complete the:
- bank state branch (BSB) number; this 6-digit number identifies the financial institution (do not include spaces or hyphens)
- account number; this number should not have more than 9 characters (do not include spaces)
- account name; your account name should be as shown on your bank account records. It should include spaces between each word and between initials. If your account name exceeds 32 characters, provide the first 32 characters only.
Description of main business activity
Describe as accurately as possible the business activity from which the AMIT derived most of its gross income, for example, investing in shares and stocks or investing in commercial non-residential property. Do not use general descriptions such as investing.
Industry code
Show the appropriate industry code for the AMIT’s main business. Use the Business industry code tool to search by the business activity description to find the correct code.
The industry code is made up of 5 digits. For example, if the industry is ‘commercial non-residential property investment’, the code to show on the tax return is 67120.
An incorrect code may result in:
- you not receiving a necessary service or material from us
- us incorrectly targeting audits.
The industry code provided is also used to publish industry benchmarks in Taxation statistics.
The industry coding regime we use is a modified version of the Australian and New Zealand Standard Industrial Classification (ANZSIC), produced jointly by the Australian Bureau of Statistics (ABS) and Statistics New Zealand.
Continue to: Overseas transactions/thin capitalisation