In episode 10, Danielle focuses on International Dealing Scheduling (IDS) and sheds light on the common errors often made when completing this schedule. 

In this ten-part series, Danielle Sherwin provides quick and practical updates on some topical international tax issues. These updates are designed to help you (or your clients) identify and understand potential international tax and transfer pricing risks before any ATO review activity.

Danielle has thoroughly enjoyed connecting with so many of you throughout this series. Your thoughtful questions continue to fuel her passion for continuous learning and sharing insights. For any additional inquiries, please feel free to reach out to Danielle Sherwin.

Stay tuned for our next season of Tax Chats! 

Key takeaways

1. When do I need to do an IDS? The requirement to actually complete and lodge an IDS is the first error we commonly see. So, make sure to check your specific facts against the ATO instructions.

2. Characterisation of transactions: Some common mistakes include misclassification between royalties and licence fees, so it is important to determine the nature of the underlying transaction first (and then consideration is given to the pricing methodology of the transaction).

3. Understanding the targeted tax risk area: The IDS questions are targeted at a wide range of International tax risk areas, so it is important that you understand what these tax risks are as you prepare the IDS form and provide these to the ATO. You should always have support for the disclosures made. 

Danielle Sherwin

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Danielle is a Partner in the Tax Services division in the Sydney office. 

Danielle specialises in international tax, with a focus on transfer pricing and international tax. She assists her clients with their international tax planning and transfer pricing needs, ranging from Significant Global Entities (SGE) assessment, Country-by-Country (CBC) reporting, transfer pricing planning and advisory to transfer pricing compliance and documentation. 

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