If you answer yes at label S at item 22 Attributed foreign income or if you answer yes at label W or O or completed label D or E at item 29 Overseas transactions/thin capitalisation you must complete an International dealings schedule 2013 (NAT 73345) and attach it to the trust’s tax return.
For more information, see International dealings schedule instructions 2013.
You do not need to complete an International dealings schedule 2013 (NAT 73345) if the trust was a subsidiary member of a consolidated group for the entire income year.
Where the trust is a member of a consolidated group for the whole income year and the thin capitalisation rules apply, the responsibility for preparing the schedule will rest on the head company of the consolidated group.
Where a return is required because the trust has a period in the income year when it was not a member of a consolidated group (a non-membership period), and the thin capitalisation rules apply to the trust during the non-membership period, the trust should complete an International dealings schedule 2013.
For more information about the thin capitalisation rules see appendix 3.