Fund income tax and regulatory return

Transcription

1 Income Tax Return

2 und income tax and regulatory return 01/07/2004 to 30/06/2005 or specify period if part year or approved substitute period R 849E otes to help you prepare this tax return are provided in the und income tax and regulatory return instructions 2005 (the instructions), available from the Tax Office Signature Tax file number (T) ame of fund or trust ^ ustralian business number () Previous name of fund or trust If the fund or trust name has changed, print it exactly as shown on the last notice of assessment or the last tax return lodged Current postal address If the address has not changed, print it exactly as shown on the last notice of assessment or the last tax return lodged Suburb or town State Postcode Postal address on previous tax return If the address has changed, print it exactly as shown on the last notice of assessment or the last tax return lodged Suburb or town State Postcode address If applicable ame of trustee If the trustee is a company, print details here including If the trustee is an individual, print details here Title amily name irst given name Other given names Hours taken to prepare and complete this tax return J 0 usiness postcode Was the fund or trust wound up during the year? Print Y for yes or for no Date wound up L I-COIDECE-when completed

3 und income tax and regulatory return 2005 Trustee's Signature R 849E05 ame of fund ^ T 1 Superannuation fund number / / 2 Date of establishment of fund or trust 14/10/ Status of fund or trust - print X in the applicable boxes Resident C1 Superannuation D1 X Pooled Membership fund superannuation D3 industry E1 00 pproved fund trust classification on-resident C2 X deposit fund D2 4 Type of fund or trust - print X in the applicable box Self-managed superannuation Public offer Employer sponsored fund(tax Office regulated) H1 X or retail H3 or corporate H5 on-regulated H7 Small PR Industry Public fund H2 or award H4 sector fund H6 Other H8 5 amily trust/interposed entity election status If the trust or fund has made or is making a family trust election and/or made or making one or more interposed entity elections for the income year or an earlier income year, print the appropriate election status code for the fund or trust in the box at the right of label I If making one or more elections or revoking a family trust election for the income year, complete and I attach the amily trust election and/or family trust revocation 2005 and/or the Interposed entity election Is the fund or trust complying in accordance with sections 45, 47 or 48 of Print Y for Yes the Superannuation Industry (Supervision) ct 1993? or for o Income tax calculation and information statement 8 Calculation statement Taxable income oreign tax credits D Rebates/tax offsets Less: Gross tax C Total of Labels D and C G Tax payable dd: Section 102M Credit for interest on early payments-amount of interest interest charge H V Credit for tax withheld where /T not quoted Less: Total of labels V, M, E and Q R M Subtotal Credit for tax withheld-foreign resident withholding E Refundable franking credits Less: Q PYG instalments raised T Total amount of tax payable (+) or refundable(-) S I-COIDECE-when completed Page 2

4 und income tax and regulatory return 2005 Trustee's Signature R 849E05 ame of fund ^ T Information statement - to be completed by all entities 9a Income Did you have a CGT Print Y for Yes et capital gain event during the year? G or for o Gross rent and other Do you need to complete a CGT schedule 2005? leasing and hiring income lso print Y at label G, if the fund received a distribution of a capital gain from a trust Gross interest C Unfranked amount D ranked amount J ranking credit Gross foreign income I Do you need to complete a Losses schedule 2005? et foreign income E ustralian franking credits from a ew Zealand company Gross taxable employer contributions Gross taxable employee or depositor contributions M ssesable amounts received from non-resident superannuation funds P et private company dividends and other excessive non-arm's length income H Sections 288 and 288 net previous income W Gross distribution from partnerships V / Gross payments where not quoted L Gross payments subject to foreign resident withholding O Gross distribution from trusts X / CODE Other income R Total of the above labels excluding label I S / I-COIDECE-when completed Page 3

5 und income tax and regulatory return 2005 Trustee's Signature R 849E05 ame of fund ^ T Information statement - to be completed by all entities 9b Deductions Interest expenses within ustralia Interest expenses overseas oreign resident withholding expenses Total salary and wage expenses Capital works deductions Deduction for decline in value of depreciating assets Group life and disability premiums Management/administration expenses Investment expenses Other deductions Transfer of taxable contributions Tax losses deducted Exempt current pension income dd labels to G above and deduct total from S on page 3 H C Q W J L D E G Taxable income or loss T / / CODE 10 Losses information If the totals of labels U + V is greater than $100,000 complete and attach a Losses schedule 2005 Losses schedule 2005 must also be completed and attached if the fund has a foreign loss Refer to the instructions 11 Other information Tax losses carried forward to later income years et capital losses carried forward to later income years Intangible depreciating assets first deducted Other depreciating assets first deducted Termination value of intangible depreciating assets Termination value of other depreciating assets Total investments umber of members umber of payments received from non-resident superannuation funds Exempt section 274(7) contributions Exempt section 275 contributions Listed country U V U W Q R S M O ttributed foreign income Do you need to complete a Losses schedule 2005? 12 Landcare and water facility tax offset Section 404 country Unlisted country I/LP income Tax spared foreign tax credits L J P Landcare and water facility tax offset brought forward from prior years I-COIDECE-when completed Page 4

6 und income tax and regulatory return 2005 Trustee's Signature R 849E05 ame of fund ^ T 13 Internet transactions Did the fund have dealings - including purchases and sales of assets or borrowings - on the internet? I Print Y for Yes or for o Overseas transactions or interest/thin capitalisation/foreign source income The following questions must be answered-print Y for Yes or for o at questions 14 to 23 If you print Y at item 15 or 16, complete and attach a Schedule International related party dealings/transfer pricing Did you have any transactions or dealings with international related parties (irrespective of whether they were on revenue or capital account)? Such transactions or dealings include the transfer of tangible or intangible property and any new or existing financial arrangements Was the aggregate amount of the transactions or dealings with international related parties (including the value of property transferred or the balance outstanding on any loans) greater than $1 million? 16 Overseas interests Did you have an overseas branch or a direct or indirect interest in a foreign trust, controlled foreign entity, transferor trust, foreign investment fund or foreign life policy? 17 Thin capitalisation Did the thin capitalisation provisions apply as outlined in the instructions and the Guide to thin capitalisation? If Yes, complete the Thin capitalisation schedule oreign source income Was the amount of foreign tax credits paid or carried forward greater than $100,000 OR was the amount of assessable foreign income greater than $500,000? 19 Transactions with specified countries X Y Z O P Did you directly or indirectly send to, or receive from, one of the countries specified in the instructions, any funds or property OR Do you have the ability or expectation to control, whether directly or indirectly, the disposition of any funds, property, assets or investments located in, or located elsewhere but controlled or managed from, one of those countries? 20 Exempt current pension income If the fund has claimed an amount of exempt current pension income in respect of any pensions OT prescribed by Income Tax Regulations, has the trustee obtained the relevant actuary's certificate or certificates required by sections 273, 273 or 283 as a condition of exemption? 21 Death or disability deduction Is the fund or trust claiming a deduction for premiums for death or disability cover under section 279 that requires an actuary's certificate to be obtained? If so, has the fund or trust obtained the relevant certificate? 22 Transfer of taxable contributions Has the fund or trust, with the consent of the transferee, transferred taxable contributions under section 275 to a life assurance company or pooled superannuation trust? If so, show the names of the transferee or transferees, the of each transferee and the amount of contributions transferred to each ame mount 0 0 ame mount Payments to contributing employers and associates Has the fund or trust made a payment or transferred a benefit that is included in the assessable income of the recipient under section 82Q? Q I-COIDECE-when completed Page 5

7 und income tax and regulatory return 2005 Trustee's Signature R 849E05 ame of fund ^ T Regulatory information for self-managed superannuation funds Only self-managed superannuation funds are to complete the remaining questions ll other funds go to page 8 and complete the trustee declaration and the tax agent's certificate (if applicable) 24 und's auditor details uditor's name and professional body membership number Title amily name irst given name uditor's professional body membership number ame of organisation ^ Postal address ^ ^ Suburb or town ^ State ^ Postcode State ^ Postcode Telephone rea code ^ umber ^ CODE 25 Which professional body does the auditor belong to? 26 Did the fund comply with all relevant SIS requirements? Print Y for Yes or for o I-COIDECE-when completed Page 6

8 und income tax and regulatory return 2005 Trustee's Signature R 849E05 ame of fund ^ T inancial information - all assets and earnings of the fund must be included in question 27a or 27b 27a Managed investments Earnings sset values Show net realised gains/losses only Life insurance policies / M Other managed investments / 27b Direct investments Overseas assets C / O Real property D / P Other property E / Q Listed shares and equities / R Unlisted shares and equities G / S Public trusts H / T Other trusts I / U Cash, debt securities and term deposits J / V Loans / W Other L / X 28 In-house and related party assets Earnings sset values In-house / C Related party investment / D 29 Value of leased assets In-house Other related party on-related party E G 30 Has the fund acquired assets(other than exempt assets)from a related party? H Print Y for Yes or for o 31 Liability information Members' entitlements orrowings Other liabilities C I-COIDECE-when completed Page 7

9 und income tax and regulatory return 2005 Trustee's Signature R 849E05 ame of fund ^ T 32 und expenditure enefit payments Outward roll overs and transfers dministration and investment expenses Other expenses D E G / 33 Contribution information on-taxable contributions Inward roll overs and transfers H I Trustee declaration: I declare that the information in this tax return is true and correct Trustee's signature Date / / This declaration and all attached documents must be signed by a trustee Trustee's contact name rea code umber Trustee's telephone Tax agent's declaration I, declare that this tax return has been prepared in accordance with information supplied by the trustee, that the trustee has given me a declaration stating that the information provided to me is true and correct and that the trustee has authorised me to lodge the tax return gent's signature Date / / rea code umber gent's telephone Client's reference Contact name gent's reference number I-COIDECE-when completed Page 8

10 Capital gains tax (CGT) schedule Use in conjunction with company, trust or fund income tax return or instructions on how to complete this schedule refer to the publication Guide to capital gains tax Print neatly in LOC LETTERS with a black or blue ballpoint pen only Do not use correction fluid or tape Print one letter or number in each box R Tax file number (T) Taxpayer's name 2007 SUPPORT UD (COPY 1) ustralian business number () Signature as prescribed in tax return Part Capital gains from CGT assets and CGT events on-active assets Capital gains-indexation method Capital gains-discount method Other capital gains Shares and units (in unit trusts) 235 C 59 ctive assets Real estate Other CGT assets and any other CGT events Collectables Shares and units (in unit trusts) Real estate Other CGT assets and D E G H J M P Q S T I L O R U any other CGT events dd amounts at to S above and write the total at V below dd amounts at to T above and write the total at W below dd amounts at C to U above and write the total at X below Total current year V W 235 X 59 capital gains (CYCG) I-COIDECE-when completed Page 1

11 Signature as prescribed in tax return Capital gains tax (CGT) schedule R Taxpayer name 2007 SUPPORT UD (COPY 1) T Part Current year capital losses (CYCL) from CGT assets and CGT events - other than capital losses from collectables Shares and units (in unit trusts) Real estate Other CGT assets and any other CGT events Total current year C D dd amounts at to C above and write the total at D below capital losses (CYCL) Part D pplying capital losses against current year capital gains Capital gains-indexation method Capital gains-discount method Current year capital losses applied E G Other capital gains Prior year net capital losses applied Capital losses transferred in applied Total capital losses applied I J M dd amounts at E to M above and write the total at Q below Q R dd amounts at to above and write the total at R below O dd amounts at G to O above and write the total at S below S Current year capital losses applied dd amounts at E, and G above and write the total at H below Prior year net capital losses applied dd amounts at I, J and above and write the total at L below Capital losses transferred in applied dd amounts at M, and O above and write the total at P below Total capital losses applied H L P or Use companies only for required capital losses to lodge a transferred losses schedule in and 2005, applied the involving amount at ustralian P must equal branches the corresponding of foreign amount on their losses schedule banks Part E Current year capital gains (CYCG) after applying capital losses Capital gains-indexation method Capital gains-discount method Other capital gains on-active assets 235 C 59 ctive assets D E dd amounts at and D above and write the total at G below dd amounts at and E above and write the total at H below dd amounts at C and above and write the total at I below Totals - CYCG after G H 235 I 59 applying capital losses I-COIDECE-when completed Page 2

12 Signature as prescribed in tax return Capital gains tax (CGT) schedule R Part pplying the CGT discount on capital gains Taxpayer name 2007 SUPPORT UD (COPY 1) T Capital gains-discount method rom non-active assets J 78 rom active assets Part G pplying the CGT concessions for small business Capital gains-indexation method Capital gains-discount method Small business active asset reduction L M Other capital gains Small business retirement exemption O P Q Small business roll-over R S T Part H Calculating net capital gain Totals-CGT discount and small business concessions dd amounts at L to R above and write the total at below dd amounts at J to S above and write the total at below 78 C dd amounts at to T above and write the total at C below Deduct the amount at above from the amount at G in part E on page 2 and write the result at D below Deduct the amount at above from the amount at H in part E on page 2 and write the result at E below Deduct the amount at C above from the amount at I in part E on page 2 and write the result at below D E et capital gain (D + E + ) G 216 Transfer the amount at G to on your tax return Part I Unapplied net capital losses (UCL) carried forward to later income years UCL from collectables H UCL from all other CGT assets and CGT events I dd amounts at H and I and write the total at V on your tax return Part J Small business 15-year exemption Exempt capital gains J CGT asset or CGT event code Part Scrip-for-scrip roll over for exchanging taxpayer Roll over chosen? Yes o X Original interests cost base Replacement interests market value C Cash and other considerations D I-COIDECE-when completed Page 3

13 Signature as prescribed in tax return Capital gains tax (CGT) schedule R Taxpayer name Part L Scrip-for-scrip roll over for acquiring entity - to be completed by companies and trusts only 2007 SUPPORT UD (COPY 1) T cquiring entity E Yes o X Print X in the appropriate box umber of original entities 0 Taxpayer T of original entity G umber of shares units etc issued H umber of options/rights etc issued I mount of other considerations J irst element of cost base of interests acquired Joint choice for roll over L Yes o X Print X in the appropriate box Cost base-significant common stakeholder interests acquired M Part M Did you have an employee share scheme in place at any time during the year? - to be completed by companies only Yes o X Print X in the appropriate box Part Same majority underlying ownership and pre-cgt assets-division to be completed by companies only O Yes o X Print X in the appropriate box I-COIDECE-when completed Page 4

14 Capital allowances schedule R 853L05 882L07 Read the publication Capital allowances schedule instructions 2005, 2007, available from the Tax Office Print neatly in LOC LETTERS with a black or blue ballpoint pen only Print one letter or number in each box Do not use correction fluid or tape Tax file number (T) See Privacy note on page ame of entity 2007 SUPPORT UD (COPY 1) ustralian business number () Signature Part Depreciating assets first deducted in the income year 1 Total cost of depreciating assets (excluding motor vehicles) ssets each costing less than $1,000 2 Total cost of depreciating assets (excluding motor vehicles) ssets each costing $1,000 or more 3 Total cost of motor vehicles C 4 Self-assessed effective life Have you self-assessed the effective life D Yes o X Print X in the of any of these assets? appropriate box Total cost of assets for which effective life self-assessed Part or all depreciating assets Depreciating assets (excluding motor vehicles) E If yes,complete E and/or If no, go to part Motor vehicles 1 Information from depreciating assets worksheet 2 Information from low-value pool worksheet Total assessable balancing adjustment amounts Total deductible balancing adjustment amounts Total deduction for decline in value - prime cost method Total deduction for decline in in value - diminishing value method Total adjustable values at end of income year G H I J Closing pool balance for previous income year Total cost of low-cost assets allocated to pool Total opening adjustable values of low-value assets allocated to pool Total second element of cost amounts allocated to pool Closing pool balance for this income year L M O P 3 Total termination values of pooled assets for which balancing adjustment event occurred Recalculation of effective life Total opening adjustable values of assets for which effective life recalculated Did you recalculate effective life for any of your assets this income year? Depreciating assets (excluding motor vehicles) S T Q R Yes o X Print X in the appropriate box If yes,complete S and/or T If no, go to part C Motor vehicles I-COIDECE-when completed Page 1

15 Capital allowance schedule Signature as prescribed in tax return Tax file number ame of entity 2007 SUPPORT UD (COPY 1) R 853L05 882L07 Part C Project pools 1 Project pools umber of project pools U 2 Total closing pool values for previous income year Total closing pool values for this income year mounts allocated this income year Total amounts incurred for environmental assessments Total mining capital expenditure and/or transport capital expenditure Total other project amounts V W X Y Z Part D Entities engaged in exploration or prospecting Total deduction for decline in value of intangible depreciating assets used in exploration or prospecting Total deduction for decline in value of other depreciating assets used in exploration or prospecting Is your Capital allowances schedule complete? Make sure you have completed your Capital allowances schedule correctly If there are any errors your schedule may be ineffective and will be returned to you to complete the information correctly efore you sign the Capital allowances schedule , check that: - you have included your tax file number (T) at the top of page 1 of the schedule - you have included your ustralian business number () at the top of page 1 of the schedule - your name is printed on page 1 of the schedule - you have completed the appropriate parts of the schedule Ensure your Capital allowances schedule is attached to your tax return Privacy: The Tax Office is authorised by the Taxation dministration ct 1953 to to request you you to to quote your your T T It is It not is not an an offence not to quote your T However, your assessment will will be be delayed if if you you do do not not quote your your T T The The Tax Tax Office Office is authorised by by the Income Tax ssessment ct ct and and the the Income Income Tax Tax ssessment ssessment ct ct to to ask ask for for information information on on this this schedule schedule We We need need this information to help government agencies authorised by law to receive it-for example, benefit payment agencies such as, this information to help us to administer the taxation laws We may give this information to other government agencies, as authorised Centrelink the Department of us to administer the taxation laws We may give this information to other government agencies in as taxation authorised law in - for taxation example, law - benefit for example, payment benefit agencies payment such agencies as Centrelink such as and Centrelink the Department and the Department of Education, of Science Education, and Support Training; Science and law Training; enforcement law enforcement agencies such agencies as state such and as federal state police; and federal and other police; agencies and other such agencies as the such Child as gency the Child and the ustralian Support gency ureau and of the Statistics ustralian ureau of Statistics I-COIDECE-when completed Page 2

16 Losses schedule Companies and trusts that do not join consolidated groups should complete and attach this schedule to their tax return Superannuation funds should complete and attach this schedule to their tax return Print neatly in LOC LETTERS with a black or blue ballpoint pen only Print one letter or number in each box Do not use correction fluid or tape R 474P05 258P07 otes to assist in the preparation of this schedule are provided in the Losses schedule instructions 2007, 2005, available from the Tax Office Tax file number (T) ame of entity 2007 SUPPORT UD (COPY 1) ustralian business number () Signature as prescribed in tax return Part Losses carried forward to the income year - excludes foreign source losses and film losses 1 Tax losses carried forward to later income years Year of loss C D E G and earlier income years Total U Transfer the amount at label U to the corresponding label on your tax return 2 et capital losses carried forward to later income years Year of loss H I J L M and earlier income years Total V Transfer the amount at label V to the corresponding label on your tax return I-COIDECE-when completed Page 1

17 in ame of entity ame of entity Losses schedule SUPPORT UD (COPY 1) T R 474P05 258P07 Signature as prescribed in tax return Signature as prescribed tax return Part Ownership and same business test - company and listed widely held trust only Complete item 3 of Part if a loss is being carried forward to later income years and the same business test has to be satisfied in relation to that loss Do not complete item 1, 2 or 4 of Part if, in the income year, no loss has been claimed as a deduction or, in the case of companies, losses have not been transferred in or out 1 Whether continuity of majority ownership test passed Year of loss ote: If the entity has deducted, transferred in or transferred out (as applicable) in the income year a loss incurred in any of the listed years, print X in the Yes or the o box to C indicate whether the entity has satisfied the continuity of majority D ownership test in respect of that loss E and earlier income years 2 mount of losses deducted for which the continuity of majority ownership test is not passed but the same business test is satisfied - excludes foreign source losses and film losses Tax losses G et capital losses H Yes o Print X in the appropriate box Yes o Print X in the appropriate box Yes o Print X in the appropriate box Yes o Print X in the appropriate box Yes o Print X in the appropriate box Yes o Print X in the appropriate box 3 Losses carried forward for which the same business test must be satisfied before they can be deducted in later years - excludes foreign source losses and film losses Tax losses I et capital losses J 4 Do current year loss provisions apply? Is the company required to calculate its taxable income or tax loss for the year under Subdivision 165- or its net capital gain or net capital loss for the year under Subdivision 165-C of the Income Tax ssessment ct 1997 (IT 1997)? Part C Unrealised losses - company only Yes o Print X in the appropriate box ote: These questions relate to the operation of Subdivision 165-CC of IT 1997 Has a changeover time occurred in relation to the company after 100pm by legal time in the ustralian Capital Territory on 11 ovember 1999? L Yes o Print X in the appropriate box If you printed X in the o box at label L, do not complete labels M, or O t the changeover time did the company satisfy the maximum net asset value test under section of IT 1997? M Yes o Print X in the appropriate box If you printed X in the o box at label M, has the company determined it had an unrealised net loss at the changeover time? Yes o Print X in the appropriate box If you printed X in the Yes box at label, what was the amount of unrealised net loss calculated under section E of IT 1997? O Part D Life insurance companies Complying superannuation class tax losses carried forward to later income years P Virtual PST net capital losses carried forward to later income years Q I-COIDECE-when completed Page 2

18 in ame of entity ame of entity Losses schedule SUPPORT UD (COPY 1) T R 474P05 258P07 Signature as prescribed in tax return Signature as prescribed tax return Part E oreign source losses 1 Prior year foreign source losses deducted - excludes losses of controlled foreign companies (CCs) Interest income Modified passive income Offshore banking income C ll other foreign source income D 2 Current year foreign source losses - excludes losses of CCs Interest income E Modified passive income Offshore banking income G ll other foreign source income H 3 oreign source losses carried forward - excludes losses of CCs Interest income I Modified passive income J Offshore banking income ll other foreign source income L 4 Controlled foreign company (CC) losses Prior year CC losses deducted M Current year CC losses CC losses carried forward O I-COIDECE-when completed Page 3

19 Thin capitalisation schedule Print neatly in LOC LETTERS with a black or blue ballpoint pen only Print one letter or number in each box Do not use correction fluid or tape R 493C05 747C07 Tax file number (T) ustralian business number () This schedule forms part of the tax return of (name of entity): 2007 SUPPORT UD (COPY 1) or detailed notes on the completion of this schedule refer to the Guide to thin capitalisation available on the Tax Office website at wwwatogovau Signature as prescribed in tax return Show whole dollars only CODE 1 Show your entity type at the end of the income year C 2 Have you changed status from 'general' to 'financial' D Yes o during the income year? X Print X in the appropriate box 3 Calculation methods CODE 3a Show the method used for calculating 'average values' E 3b Have you chosen to use the thin capitalisation transitional Print X in the box provision for your thin capitalisation calculations? 4 General information - ll entities to complete Debt deduction mount of debt deduction disallowed djusted average debt sset revaluation amount for thin capitalisation purposes Excess debt (non-di)/capital shortfall (DI) verage value of assets (non-dis only) Maximum allowable debt(non DIs)/minimum capital amount(di) G H I J I-COIDECE-when completed Page 1

20 ame of entity 2007 SUPPORT UD (COPY 1) Signature as prescribed in tax return Thin capitalisation schedule R 493C05 747C07 T DI - Complete as applicable 5a 5b 5c (djusted) average equity capital verage value of risk weighted assets Outward investing entity Equity capital attributable to overseas permanent establishment(s) verage value of controlled foreign entity equity Inward investing entity Tier 1 prudential capital deductions L M O P verage of risk weighted assets attributable to ustralian permanent establishment(s) verage value of dotation capital Q R 6 on-di - Complete as applicable 6a 6b 6c verage value of non-debt liabilities verage value of associate entity debt verage value of associate entity equity verage value of associate entity excess amount inancial entity Outward investing entity verage zero capital amount verage on-lent amount verage value of controlled foreign entity equity verage value of controlled foreign entity debt C D E G H 7 rm's length tests If relying on this test show: rm's length debt (non DI) or capital (DI) amount I 8 Worldwide gearing debt/capital test If relying on this test show: Worldwide group capital ratio Worldwide capital amount Worldwide debt Worldwide equity DI J L on-di M Worldwide gearing debt amount I-COIDECE-when completed Page 2