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G schedule - Summary of group exchange gains and losses |
See Also
O schedule - Group members | Taxable exchange gains
Select from the following headings:
Background | Developing the schedule | Completing the Schedule | Standard Sub-Schedules | Carry Forward | Related Errors
Schedule G is used to carry out the calculations required for group based deferral of gains in order to give a summary of group exchange gains and losses.
This schedule extracts figures from the foreign exchange gains schedules in underlying computations and aggregates the figures to post the group amounts back into the computations.
The group values are then used in the computation of the deferral of unrealised long term gains.
The schedule will only include information for companies which form part of the 75% group. If there are any other restrictions on the inclusion of amounts from the underlying computations, then the user must make appropriate adjustments.
The schedule will also show the amounts of unrealised long-term trade and non-trade exchange gains and losses for review purposes.
Finally, for review purposes, the schedule will show the status of the group member flag on the Taxable Exchange Gains schedule in the underlying computations for the user to check that this has been correctly set.
This schedule is developed automatically in every group file.
© 2009 Thomson Reuters.