Use a separate worksheet for each partnership. All amounts are to be in the currency in which the accounts of the partnership are kept - do not convert to Australian dollars.
Part A - Working out the partnership's gross turnover
Step 1 |
Work out the partnership's gross revenue as shown in the partnership's accounts. |
a $ |
Work out the following amounts included in a. Do not include these amounts in the ratio. |
Category of gross revenue |
Amount $ |
|
Amounts already assessed to the CFC in Australia |
|
|
Amounts derived through a branch in a listed country that is not EDCI in relation to any listed country and are subject to tax in a listed country |
|
|
Non-portfolio dividends from a foreign company |
|
|
Dividends out of profits previously attributed |
|
|
Franked dividends |
|
|
|
|
|
Total: |
b $ |
Step 3 |
Work out the following gross amounts included in a. Do not count amounts already excluded under step 2. The net amounts are added back at step 4. |
Category of gross revenue |
Amount $ |
|
Revenue from commodity contracts |
|
|
Revenue from exchange gains |
|
|
Revenue from other asset disposals |
|
|
Total: |
c $ |
Work out net gains included in gross turnover. Do not count amounts that fall into the categories in step 2. |
Category of net gain |
Amount $ |
|
Net commodity gain |
|
|
|
|
|
Net gain from other asset disposals |
|
|
Total: |
d $ |
|
Gross turnover of the partnership (a - b - c + d) |
||
Part B - Working out the partnership's gross tainted turnover
Step 1 |
Work out the partnership's gross revenue that is passive income after exclusions - item a from part A less items b and c from part A - that falls into the following categories of passive income. |
Category of passive income |
Amount $ |
|
Interest |
|
|
Annuities |
|
|
Tainted royalty income |
|
|
Tainted rental income |
|
|
Dividends |
|
|
Other passive income |
|
|
Total: |
a $ |
Step 2 |
Work out the partnership's gross revenue that is tainted sales income after exclusions - item a from part A less items b and c from part A. |
b $ |
|
Step 3 |
Work out the partnership's gross revenue that is tainted services income after exclusions - item a from part A less items b and c from part A. |
c $ |
|
Step 4 |
Work out the partnership's net gains included in gross turnover that are tainted income. |
||
Category |
Amount $ |
|
Net commodity gain - from part A |
|
|
Net tainted commodity gain |
|
|
Smaller amount |
|
|
Net exchange gain - from part A |
|
|
Net tainted exchange gain |
|
|
Smaller amount |
|
|
Net gain from assets - from part A |
|
|
Net gain from tainted assets |
|
|
Smaller amount |
|
|
Total smaller amounts: |
d $ |
|
Gross tainted turnover of the partnership (a + b + c + d) |
B $ |
|
Part C - CFC's share of the gross turnover and the gross tainted turnover
CFC's percentage interest in the net income of the partnership: |
|
CFC's share of the gross turnover of the partnership:
Percentage interest in net income from above |
X |
= |
C $ Use this amount to fill in step 5 of part A of worksheet 2 |
CFC's share of the gross tainted turnover of the partnership:
Percentage interest in net income from above |
X |
= |
D $ |