We strongly recommend that you read these instructions when completing the International dealings schedule.
If the information requested is not relevant to your circumstances, leave the fields blank.
All amounts within the schedule are in Australian dollars.
The dollar amounts or values asked for in this schedule are to be based on your accounting records, unless a question specifically asks for values based on your income tax records.
The 2016 IDS did not include item 11g (foreign exchange gains returned or foreign exchange losses deducted). If you have returned foreign exchange gains or deducted foreign exchange losses for your international related party dealings, we understand that you may not have accounting systems which collect all the information required to complete all parts of item 11g for the first year based on the outputs from your accounting system alone.
If this is the case, complete item 11g using your current systems and make a best effort to estimate figures where you do not have records of the actual data. Keep a record of:
- the nature of the foreign exchange gains returned or foreign exchange losses deducted for your international related party dealings, for which you have provided best estimate figures at item 11g
- what data you used to make this estimate.
You are not required to send the record of your workings to us. However you must keep the record with other documentation for your tax return. For further information on record keeping, refer to Keeping your tax records.
Any feedback you can provide to us on the difficulty or otherwise in completing this schedule would be appreciated and will be considered for future versions of this schedule. For information about the methods of providing feedback, see About these instructions.
For the definitions of terms used in this schedule, see Definitions.
When we say you, your business or taxpayer in these instructions, we mean either
- you as a business entity, for example, a company, trust or partnership that conducts a business
- you as the tax agent or public officer responsible for completing the schedule.
Question 1
Provide your entity's:
- name
- tax file number (TFN)
- Australian business number (ABN).
These details should be exactly the same as those shown on your entity's tax return.