Question 42
The conduit foreign income provisions are in Subdivision 802-A of the ITAA 1997.
If you were an Australian corporate tax entity that had conduit foreign income within the meaning of Subdivision 802-A at any time during the income year, answer Yes at A item 42 and complete the following.
Write at B item 42 the amount of the entity's conduit foreign income determined under sections 802-25 to 802-55 of the ITAA 1997 at the end of the income year.
For the requirement under subsection 802-30(5) to subtract the amount of expenses that are reasonably related to the amounts included in foreign source income under subsections 802-30(1) to (4), see ATOID 2013/6.
Leave B item 42 blank if the only conduit foreign income that the entity derives is through distributions from other Australian companies and the entity does not make any distributions that the entity declares to be conduit foreign income (within the meaning of section 802-45).
If the amount of the entity's conduit foreign income at the end of the income year is negative, print L in the box at the right of the amount shown at B item 42.
If the entity was a subsidiary member of a consolidated or MEC group at the end of the income year and is completing a tax return because of any non-membership periods, write at B item 42 the amount of the entity's conduit foreign income determined under sections 802-25 to 802-55 of the ITAA 1997 at the end of the latest non-membership period.
Write at C item 42 the total amount of distributions made by the entity that were declared by the entity to be conduit foreign income (within the meaning of section 802-45) during the income year.
If the entity was a subsidiary member of a consolidated or MEC group at the end of the income year and is completing a tax return because of any non-membership periods, write at C item 42 the total amount of distributions made by the entity that were declared by the entity to be conduit foreign income (within the meaning of section 802-45) during all the non-membership periods in the income year.
Question 43
If an amount is deducted by a company under section 46FA of the ITAA 1936, the company is required under subsection 46FA(4) to maintain an unfranked non-portfolio dividend account under section 46FB of the ITAA 1936.
If you are a company with an unfranked non-portfolio dividend account under section 46FB, answer Yes at A item 43 and complete the required fields.
Write at B item 43 the amount of the company's unfranked non-portfolio dividend account surplus at the end of the income year determined under subsection 46FB(2) of the ITAA 1936.
Write in the Code box for B item 43:
- Y if any of the amounts included in the company's unfranked non-portfolio dividend account surplus during the income year were also included in the amount of the company’s conduit foreign income for that income year
- N in any other circumstance.
Question 44
If you paid an amount of interest exempt from withholding tax during the income year, answer Yes at A item 44 and complete the following.
Write at B item 44 the total amount of interest you paid during the income year to Finnish, French, Japanese, New Zealand, Norwegian, South African, United Kingdom and United States financial institutions that is exempt from withholding tax because of Article 11 of a double tax agreement (DTA) with these countries.
You must complete C item 44 if you have shown an amount at B item 44.
Write at C item 44 the below three-letter country code for the country of the financial institution(s) to which you paid the highest total amount of interest exempt from withholding tax under Article 11 during the income year:
- FIN if the exempt interest payments were to Finnish financial institutions
- FRA if the exempt interest payments were to French financial institutions
- GBR if the exempt interest payments were to United Kingdom financial institutions
- JPN if the exempt interest payments were to Japanese financial institutions.
- NOR if the exempt interest payments were to Norwegian financial institutions
- NZL if the exempt interest payments were to New Zealand financial institutions
- USA if the exempt interest payments were to United States financial institutions
- ZAF if the exempt interest payments were to South African financial institutions.
Write at D item 44 the total amount of interest you paid during the income year to non-residents that is exempt from interest withholding tax under section 128F of the ITAA 1936.
Write at E item 44 the total amount of interest paid during the income year to non-residents that is exempt from interest withholding tax under section 128FA of the ITAA 1936.