Revision of Annual investment income report (AIIR) specification v11.0.0 from Fri, 2016-10-28 11:41

Version: 

11.0.0

Original Published Date: 

26/10/2016 - 02:30pm

Status: 

  • Current

Tax Category: 

  • Investment bodies

Resource Type: 

  • Specifications

Description: 

A new FINAL electronic reporting specification (ERS) Annual investment income report (AIIR) version 11.0.0 has been released. A tracked and clean version has been published for your information.

This specification contains the data requirements for the 2016-17 and 2017-18 financial year onwards.

Investment bodies that do not meet the criteria below may continue to report using AIIR version 10.0.2 for the 2016-17 financial year onwards.

2016-17 financial year

Investment bodies are required to report using version 11.0.0 if they are an Attribution Managed Investment Trust (AMIT) or:

  • Reporting exploration credits
  • Reporting distributions containing exploration credits, credit for amounts withheld from foreign resident capital gains withholding payments, early stage investor tax offsets or early stage venture capital limited partnership tax offsets, or
  • Farm management deposit providers who offer a loan offset account facility to their FMD owners from 1 July 2016.

2017-18 financial year onwards

Investment bodies are required to report using version 11.0.0 if they are an AMIT or:

  • Reporting exploration credits
  • Reporting distributions containing exploration credits, credit for amounts withheld from foreign resident capital gains withholding payments, early stage investor tax offsets or early stage venture capital limited partnership tax offsets, or
  • Farm management deposit providers who offer a loan offset account facility to their FMD owners from 1 July 2016, or
  • Reporting on transactions about shares and units in unit trusts.

A brief overview of the differences between the DRAFT version 11.0.0 and FINAL version 11.0.0 is listed below.  Refer to the specification on pages I – V for a full list of changes between version 10.0.2 and version 11.0.0.

Key changes from the draft version to the final version

Security level data record changes

Security code and Security code cost base percentage has been replaced by the following fields (this includes a change in field lengths and associated definitions)

  • Identifier type (7.56)
  • Identifier (7.57)
  • Identifier cost base percentage (7.58)

Investment account data record changes

The CGT Concession amount field has been changed to CGT concession amount or AMIT CGT gross up amount and the associated definition has also changed.

Change to definition for

  • Tax-deferred amounts
  • Other allowable trust deductions

AMT is no longer a valid Type of payment for the following fields

  • Tax-deferred amounts
  • Tax-free amounts

Change to instructional information for reporting of Franking Credits where Type of Payment is AMT

The following field names have changed

  • Non-resident beneficiary ss98(3) assessable amount field changed to Non-resident beneficiary ss98(3) or non-resident member ss276-105(2)(a) or (b) assessable amounts
  • Non-resident beneficiary ss98(4) assessable amount field changed to Non-resident beneficiary ss98(4) or non-resident member ss276-105(2)(c) assessable amounts
  • Listed investment company capital gain amount field changed to Listed investment company capital gain deduction

Supplementary income account data record changes

Change to instructional information for reporting of Franked Distributions from trusts where Type of Payment is AMT

Correction to definition for AMIT cost base net amount – excess and AMIT cost base net amount – shortfall fields.

The following field names have changed

  • Capital Gains discounted method – Taxable Australian property field changed to Capital Gains discount method – Taxable Australian property
  • Capital Gains discounted method – Non-Taxable Australian property field changed to Capital Gains discount method – Non-Taxable Australian property
  • Share of credit for amounts withheld from Foreign Resident Capital Gains Withholding payments field changed to Share of Foreign Resident Capital Gains Withholding credits

Added field and definition for Royalties (7.132)

Sale of securities data record changes

Transaction reason code and sub-type codes fields are now below the Reporting transactions or CGT calculations field

The following fields have changed character lengths

  • Number of disposed securities acquired in the last 12 months field to 12 characters
  • Proceeds from securities disposed, Original cost of securities disposed of, Tax deferred distributions, Tax cost base, Gross capital gain or loss and Discounted capital gain fields changed to 13 characters
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