Use this summary sheet if you had an interest in a foreign company during your income year. Use a separate summary sheet for each foreign company.
Your name |
Tax file number |
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Name of foreign company |
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1. Were you a Part X Australian resident at the end of the CFC’s statutory accounting period?
Yes |
Go to question 2. |
No |
You do not have to work out the foreign company’s attributable income for the income year. |
2. Was the foreign company a CFC at the end of its statutory accounting period?
Answer questions 1 to 10 of Worksheet 1 to find out if the foreign company is a CFC at the end of its statutory accounting period. Treat references to the test time in Worksheet 1 as references to the end of the CFC’s statutory accounting period.
Yes |
Go to question 3. |
No |
You do not have to work out the foreign company’s attributable income for the income year. |
3. Were you an attributable taxpayer at the end of the CFC’s statutory accounting period?
Answer questions 11 and 12 of Worksheet 1 to find out if you were an attributable taxpayer.
Treat references to the test time in Worksheet 1 as references to the end of the CFC’s statutory accounting period.
Yes |
Work out the CFC’s attributable income. Read on. |
No |
You do not have to work out the CFC’s attributable income for the income year. |
4. Was the CFC resident in a listed country or in an unlisted country at the end of the statutory accounting period?
Listed country |
Unlisted country |
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State below the name of the country or countries of residence. |
State below the name of the country or countries of residence. |
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5. Did the CFC pass or fail the active income test?
Use summary sheet 3 and associated worksheets to determine whether the CFC passed the active income test.
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Pass |
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Fail |
6. What was the CFC’s attributable income?
Complete worksheet 4 to answer this question.
Write the amount from A of worksheet 4 here: |
$ |
7. What was your share of the CFC’s attributable income?
Complete worksheet 4 to answer this question.
Write the amount from B of worksheet 4 here: |
$ |