The Australian Taxation Office (ATO) has released the 2018 International dealings schedule (IDS) and their instructions for 2018 tax years.
The IDS must be lodged by businesses that provide a response at the trigger questions of the relevant company, trust or partnership tax return and businesses with international dealings of more than $2 million with related parties.
The following questions have been updated for the 2018 form:
- Q 13f – R&D and overseas intangibles
- Q 19a – arrangements involving hybrid instruments
- Q 21a – controlled foreign companies (CFCs)
- Q 23 – attribution income of CFCs
- Q 28a – foreign hubs
- Q 29b – cross border hybrid entities and hybrid instruments
- Q 30b – thin capitalization
- Q 37a-c – valuation of intangibles
- Q 40 – financial service entities.
