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ATO Publishes Additional Examples of International Related Party Dealings for International Dealings Schedule and Local File — Orbitax Tax News & Alerts

The Australian Taxation Office (ATO) has issued an email notification on the addition of examples of international related party dealings that are relevant for the International Dealings Schedule, as well as the Local file.

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We are writing to you to let you know we have added examples of international related party dealings (IRPDs) under the existing definition in the IDS instructions of 'International related parties' and 'international related party dealings'.  Here is a link to the examples added to the instructions: https://www.ato.gov.au/Forms/International-dealings-schedule-instructions-2019/?page=38#

Since the instructions for the Local File adopt the same definition of IRPD, these examples are also relevant for SGEs reporting IRPDs in the Local File.

If you are not the representative of your organisation or firm who is responsible for IDS or Local File reporting matters, we encourage you to forward this email and the attached link to the examples to appropriate contacts within your organisation or firm.

Please provide any feedback or questions through the IDS mailbox.