Expanded 2019 international dealings schedule

The IDS has expanded to 22 pages on the back of new questions relating to controlled foreign companies, the hybrid mismatch rules and others.

In the 2019 version, the Australian Taxation Office (ATO) is also providing IDS compliance relief for certain small businesses and has clarified the wording of a number of other questions. A summary of the major changes by the various sections is as follows:Section A – International related party dealings Simplification for small businesses - 2b. This new item applies to any small business entity that is not a significant global entity (SGE) and that has international related party dealings n...

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Published Date: 25 June 2019