4 Refundable tax offsets Provides amounts relating to Franking credit applied against assessed tax refundable offsets applied against offset applied to assessed tax including adjusted assessed tax details. Example: Private Health Insurance Rebate and Franking credit offset. 5 Plus other liabilities Provides amounts relating to Temporary budget liabilities not captured elsewhere. repair levy from Example: Medicare levy and section 34 income surcharges, Excess Foreign Income Offset details and Working Holiday details for 2017. 6 Refundable tax offsets not Provides amounts relating to Franking credit applied against assessed tax refundable offsets not applied offset applied to against assessed tax including assessed tax adjusted details. Example: Private Health Insurance Rebate and Franking credit offset. 7 PAYG and other credit Provides amounts relating to PAYG n/a entitlements Instalments. 8 PAYG withholding credits Provides amounts relating to PAYG Share of credit for withholding. Example: Total tax tax withheld where withheld and TFN amounts ABN not quoted withheld. 9 Credit for tax paid by trustee Provides amounts relating to tax Sec 100(2) credit paid by trustees. Example: Trustee credits including sections 98A(2) and 100(2) of the Income Tax Assessment Act 1936. 10 Notice of withholding tax Provides amounts relating to the Withholding notice of withholding tax. Example: (interest) tax Non Resident Withholding Tax balance interest, dividends and shortfall amounts. N/A Adjustment reason codes Provides report guidance on n/a adjustment details mapped to values. Table : The flow of groupings to reflect calculation of assessment The balance of this assessment is calculated by using the following formula: Debits Credits plus Section 102AAM interest = Balance of this assessment. The below table lists the fields which contribute to the debits and credits for a 2016 notice of assessment. Debits Credits Tax assessed balance Refundable tax offsets total not applied to assessed tax Medicare levy liability Total PAYG and other credit entitlements Excess private health reduction or refund (rebate HELP compulsory repayment due after partial reduced) deferment SFSS repayment amount due SSL compulsory repayment due after partial deferment
4 Refundable tax offsets applied against assessed tax Provides amounts relating to refundable offsets applied against assessed tax including adjusted details. Example: Private Health Insurance Rebate and Franking credit offset. Franking credit offset applied to assessed tax 5 Plus other liabilities Provides amounts relating to liabilities not captured elsewhere. Example: Medicare levy and surcharges, Excess Foreign Income Offset details and Working Holiday details for 2017. Temporary budget repair levy from section 34 income 6 Refundable tax offsets not applied against assessed tax Provides amounts relating to refundable offsets not applied against assessed tax including adjusted details. Example: Private Health Insurance Rebate and Franking credit offset. Franking credit offset applied to assessed tax 7 PAYG and other credit entitlements Provides amounts relating to PAYG Instalments. n/a 8 PAYG withholding credits Provides amounts relating to PAYG withholding. Example: Total tax withheld and TFN amounts withheld. Share of credit for tax withheld where ABN not quoted 9 Credit for tax paid by trustee Provides amounts relating to tax paid by trustees. Example: Trustee credits including sections 98A(2) and 100(2) of the Income Tax Assessment Act 1936. Sec 100(2) credit 10 Notice of withholding tax Provides amounts relating to the notice of withholding tax. Example: Non Resident Withholding Tax interest, dividends and shortfall amounts. Withholding (interest) tax balance N/A Adjustment reason codes Provides report guidance on adjustment details mapped to values. n/a Table : The flow of groupings to reflect calculation of assessment The balance of this assessment is calculated by using the following formula: Debits Credits plus Section 102AAM interest = Balance of this assessment. The below table lists the fields which contribute to the debits and credits for a 2016 notice of assessment. Debits Credits Tax assessed balance Refundable tax offsets total not applied to assessed tax Medicare levy liability Total PAYG and other credit entitlements Excess private health reduction or refund (rebate reduced) HELP compulsory repayment due after partial deferment SFSS repayment amount due SSL compulsory repayment due after partial deferment
ATO-ASMT.0002-2017-Business-Implementation-Guide.docx