The amount that makes up label C in the Calculation Statement of the company return is derived from many items entered in the tax return. This worksheet provides both for that integration and for the entering of other rebates and tax offsets calculated by the user.
Tax will integrate any known values to this worksheet. The worksheet may be opened directly at Label C in the Calculation Statement or from the Preparation > Schedule menu and selecting nro.
As a general rule, the offsets and credits that are non-refundable non-carry forward integrate from values entered elsewhere in the return as listed on the dialog. Where the field is open to edit a value may be entered.
These offsets are limited to gross tax payable. That is, in the calculation statement if the result of label B minus label C were to be negative, the amount at Subtotal T2 would be zero.
Adjustment fields are provided for franking offsets that have been included at label C but that are refundable at label E. the amounts entered will be pre-filled into the relevant fields in the Refundable tax offsets dialog at label E.
This worksheet will be printed as part of the Company Offsets from labels C, D and E.