CPA Taxation Index
Page Comments
12 week record keeping method734
12 week register method739
50-50 split method738Meals & entertainment fringe benefit 50% stake test532, 535Subdivision 269C
80% rule437PSI
90% owned group815
Accomodation (FBT)744
Accruals method807
Actual conditions682
Adjustment events (GST)810
Advance pricing arrangements699
Allocable cost amount (ACA)650One off transaction, 'stepped' acquisition Amalgamations816Division 90
Annuities405Also known as non-superannuation
Anti avoidance (GST)816
Arms length 684, 688, 691
Appointer500 Apportionable deduction calculation392 Approved deposit fund403 Assessable income 393
Associate 436, 715,
777, 778Divison 72, Includes a relative of the employ
ATI414Adjusted Taxable Income Attribution rules (GST)808, 809
Average cost method731See car parking benefits Bad debt 812Accruals only
BAS periods804
Beneficiary 499, 500, 510
Beneficiary rebate424
Business778
Board (FBT)744
Borrowed (GST)806
Branches (GST)816Division 54
Capital gain482
Capital gain (trusts)520
Car benefits727Statutory formula, operating cost method
Car parking benefits732Division 10A
Cash basis805
CGT Event E4 (trusts)536
Cheque (transaction)806
Child care (GST-free)787
Commercial parking station method733See car parking benefits
Commercial residential property790, 791Taxable supply, see new & residential premises
Comparable uncontrolled dealing 688, 689,
691Example 11.5, arms length
Comparable uncontrolled price (CUP)691, 692Adjusted CUP method is more realistic Compensatery adjustments686, 687
Consideration776
Consideration (nexus)777
Consignment sales785
Consolidation benefits & costs648
Contemporaneous documentation700If failed, 25% penalty rate
Control test409, 531Subdivision 269E
Cost plus method (CPM)694, 695Cost absorption principle
Cost setting rules649Reset cost base
COT657
Court orders785
Credit card (transaction)806
Creditable acquisitions797
Creditable importations799
Cross boarder test681
Current GST turnover781Previous 11 months, see projected GST turnover Customer loyalty programs784
Death benefit dependant397, 398Table 6.5
Death benefit termination payment397
Debt deduction697
Debt interest641
Debt waiver 735
Deceased estates507
Decreasing adjustment826Taxpayer pays less GST to the ATO
Discretionary trusts 501, 504,
527, 530Family trusts, election
DICTO412, 416Post 1 July 2012
Dissolution agreement480
Double tax424
Dependant412, 417
Dependant carer416
Dependant rebates411, 412Pre 1 July 2012
Dependant spouse rebates412, 413Spouse born before 1 July 1952 Deposits784
Depreciation482
Duty free (GST-free)788
Early retirement 394, 396, 398
Education (GST-free)786
Eligible assessable income 389, 390,
392Div 6AA rates
Employee/contractor409Control test, integration test (master - servant) Employee contribution718, 719Reduce taxable value, must be POST tax Employee share schemes441, 641
Employer715Past, present & future
Enterprise778Charities, gvt entities, DGR
Entry history rule646
ETP394, 395
ETP caps396
Everett assignment479
Excepted assessable income389, 392Taxed @ normal rates
Excepted persons388
Excepted trust income390, 529
Exempt employers (rebates)750Schools, religious inst, etc
Exempt fringe benefits716Division 13
Exempt fringe residual benefits748
Exit history rule663
External (property fringe benefit)746
Expense payment fringe benefit737
Exports (GST-free)787
Facilitator789Does not supply financial supplies, see provider Family group527
Family situation rebates411
Family trusts527, 530
FBT 3 conditions7141 July 1986 non assessable, non exempt
FBT 12 categories716
FBT cap726$17k/$30k cap on grossed up value
FBT exclusions714
FBT exempt725, 752$17k/$30k cap
FBT gross up amount713, 72147%
FBT instalments713Over $3,000
FBT lodgement71321 May or 28 May (using tax agent)
FBT no private benefit declaration719, 737See otherwise deductible rule
FBT record keeping752
FBT reduction in taxable value716Division 14
FBT steps724
Financial supplies (Input taxed supply)789, 802,
806, 81975% reduction
Fines, penalties & taxes784
FITO424<$1,000 offset
Fixed trusts 501, 504,
529, 535Lifetime, entitlement that is indefeasable
Food (FBT)742, 743Excess of reasonable food allowance Food (GST-free)786
Franking credits511
Franking credit tax offset424
Foreign partners471
Foreign sourced salary408Pre 1 July 2009, 91 day+ exempt Forfeiture (real risk)442ESS deferred tax
Further tax (p/ship)479Trustees, minors, primary producers
Genuine redundancy payments 394. 398, 400
Going concern (GST-free)787
Gross up formula (FBT & GST)721Type 1 and Type 2 fringe benefit GST apportionment793, 794
GST calculation793
GST free supply 769, 770,
785Division 38
GST grouping815
GST registration78021 days
GST requirements780$75k turnover threshold
GST timing804Monthly/quaterly/annually
GST value & price772Value = GST exc. Price = GST inc.
Guardian500
Head company640
Health (GST-free)786
HELP repayment429
Hire purchase (GST)806
Housing fringe benefit739Urban areas v remote areas Hybrid trusts501Lifetime, both fixed & discretionary Importations792, 793Importer is liable
In-house property fringe benefit745
Income injection test530, 535Division 270, "outsider"
Indirect/overhead costs (GST)799
Input tax credits796
Input taxed supply 769, 771,
789Division 40, 4 years
Interdependancy relationship397
Intergration test410
International Taxation Agreements (ITA)686Mutual agreement procedure
Internet/telephone (transaction)806
Invalidity segment calculation395Tax free comp of ETP
Invoices813$75 rule
Joint venture467
Land (transaction)806
Lease806
Life benefit termination payment394, 396
LITO422
Living away from home allowance 7411-Oct-12
Loan fringe benefits735Less than benchmark FBT rate (5.95%)
Long service leave 394, 399,
400Table 6.6
Losses (consolidation)659Satisfy COT & SBT
Market value method733See car parking benefits
Margin scheme795, 802 1 July 2000, no input tax credits on purchase MAWTO426, 427
Meals and entertainment73850-50 split method, 12 week register method Medical expenses rebate416, 417
Medicare levy428
Medicare levy surcharge428
Metals (GST-free)788, 789GST-free or input tax credits
Minors 388, 390,
478Div 6AA
Modified COT/SBT659
Mutual agreement procedure687ATO v IRS, reach a common goal
New residential premises791See residential & commercial residential Non assessable payments536
Non resident408
Non resident beneficiary505Figure 8.1 p 506
Non unit trusts (fixed)501Lifetime
Notional income512Franking credits, CGT
One off transaction (consolidation)650Steps 1, 2, 6, 7, 8
Operating cost method730See car benefits
Otherwise deductible rule719Reduce taxable income
Overtime737
Part IVA469
Partners interest476
Partnership466
Partnership income - control478
Partnership loss471, 473
Partnership net income 471
Partnership salary474Salary deficiency - not assessable TY but may be NY Pattern of distributions test533Subdivision 269D
PAYG (FBT)718Qtrly 28th / Mthly 21st
Pensions405
Pre-established costs800
Presently entitled504Legal disability? S99 & S99A
Preservation age396
Prescribed persons388
Private health insurance offset425
Profit entitlement479
Profit split method (PSM)695
Projected GST turnover782Next 11 months, see current GST turnover
Property (FBT)745See in-house and external
Proportionate approach512, 519
Proportioning rule403
Provider789Generally input taxed, see facilitator
PSB436Results test, unrelated clients, employment
PSI426, 432
Reallocation748
Rebateable reduction526Cap gain + fr dist > trust net inc
Reconstitution (p/ship)481
Recurring fringe benefit declaration719, 737Business use decreases by 10%
Reimbursements800
Remote areas740Housing fringe benefit, exempt conditions apply Reportable fringe benefits752
Resale price method (RPM)693, 694Later resold to an independent party
Reset cost base655
Residents408
Residents test zone rebate)419
Residentual premises/rent 790See commercial & new residential
Residual benefit (FBT)416If it doesn't fall under any other category
Retained cost base asset654
Retirement savings account403
Requirements to lodge a tax return385
Safe harbour concessions698Non core, de minimis
Salary sacrifice 717, 745,
747, 753Documentation needed
SAPTO422
SBE805
SBT657
Scheme8162-Dec-98 Second hand goods800, 808$300 rule Security deposits784
Settled sum499
Settlor499
Single entity rule644
Social security pension422
Spouse412
Super guarantee charge403
Supply774, 775Passing of possession to another party Supply (Composite)775
Supply (Mixed)775
Supply (Money)774, 776NOT a supply, unless it is an obligation Special professional385
Specifically entitled523
Statutory formula method728, 734Car & car parking benefit
Stepped acquition (consolidation)650Steps 3, 4, 5, see ACA
Streaming (trusts)521, 522, 523
Subsidiary member641 Superannuation benefits403<$200 tax free Tax refund/payable385
Taxable Income (Individuals)385
Taxable supply 769, 773, 793 (calc)
Taxi749
Termination (ETP)394, 395Invalidity segment
Tertiary student financial supplement430
Testamentary trusts509
Thin capitalisation697
Threshold (Individuals)387
TR 97/20686, 691 5 accepted methodologies
Trading stock481Election pre 1 Sept
Transactional net margin method (TNMM)696
Transfer pricing (4 step process)688
Transfer pricing (actual conditions)682
Transfer pricing (consequential adjust)686
Transfer pricing (decision chart)681
Transfer pricing (documentation)700
Transfer pricing benefits685
Transport (GST-free)788
Travelling allowance741
Trial year65712 months from joining time
Trust (closely held)537
Trust (net income)511, 519Tax income, see trust income
Trust deed500
Trust distribution tax52746.50%
Trust TFN withholding537
Trust income519Acc income, franking credits are excluded
Trust property599
Type 2 fringe benefit7221.8868 GST exclusive (child care, education) Unearned income391
Unit trusts (fixed)501, 529Lifetime
Unused annual leave394, 39918 Aug 1993 exception
Urban areas739Housing fringe benfit, market value v stat annual
Valid tax sharing agreement661Allocates liabilities amongst members Vesting period500
Veterans affairs pensioner422
Veterans entitlement act422
Vouchers (GST)783
Wholly owned641
Work in progress477
Zone rebate419
mployee idential premises
T turnover aster - servant)
provider
chase gister method
but may be NY
ST turnover employment
conditions apply
ed
re, education) alue v stat annual