Part A - Working out the CFC's gross turnover

Last updated 11 September 2016

Step 1	Work out the CFC's gross revenue as shown in the CFC's accounts.	a	$_______
Step 2	Work out the following amounts included in a. These amounts are to be excluded from gross turnover.

Category of gross revenue	Amount $
Amounts already assessed in Australia	_______________
Amounts derived through a branch in a listed country that are not EDCI in relation to any listed country and are subject to tax in a listed country	_______________
Non-portfolio dividends	_______________
If the CFC is a resident of a listed country, portfolio dividends from a listed country	_______________
Dividends out of profits previously attributed	_______________
Trust amounts	_______________
	Total:	b	$_______

Step 3

Work out the following gross amounts included in a.

The net amounts are added back at step 4. Do not count amounts that fall in the categories listed in step 2.

Category	Amount $
Revenue from commodity contracts	_______________
Revenue from exchange gains	_______________
Revenue from other asset disposals	_______________
	Total:	c	$_______

Step 4

Work out net gains to be included in gross turnover. Do not count amounts that fall in the categories listed in step 2.

Category	Amount $
Net commodity gain	_______________
Net exchange gain	_______________
Net gain from other asset disposals	_______________
	Total:	d	$_______

Step 5

Work out the CFC's share of the gross turnover of partnerships in which the CFC is a partner-refer to worksheet 3.

QC18818