N500 - N599

N504

Assessment calculation codes used for resident trustees who choose to be assessed on a capital gain on behalf of a beneficiary. The codes are split into two categories - Inter Vivos Trusts and Deceased Estates.

The values of the codes falling under Inter Vivos Trusts are:

36 Resident trust for which the trustee has chosen to be assessed on a capital gain on behalf of a beneficiary;

37 Resident trust to which subsection 99A(2) of ITAA 1936 is to be applied for which the trustee has chosen to be assessed on a capital gain on behalf of a beneficiary.

The values of the codes falling under Deceased Estates are:

15 Trust where the deceased person died less than three years before the end of the income year for which the trustee has chosen to be assessed on a capital gain on behalf of a beneficiary;

16 Trust where the deceased person died more than three years before the end of the income year for which the trustee has chosen to be assessed on a capital gain on behalf of a beneficiary.

N505

The 'Trustee or partner', 'Family trust' or 'Specified Individual' does not have a TFN indicator code is 'Y'.

N506

The 'Trustee', 'Specified Individual' or 'Company/partnership/trust' does not have a TFN indicator code is 'Y'.

N507

The income year for which the details of the election being revoked were included in the tax return for the trust or given to the Commissioner must be the 1998 or later income year.

N508

The income year specified in the election being revoked must be the 1995 or later income year.

N509

The income year from which the revocation is to be effective under subsection 272-80(8) must be the 2005 or later income year.

N510

The tax timing method election indicator is 'Y' for: 'Fair value method', 'Foreign exchange retranslation method - general election', 'Foreign exchange retranslation method - qualifying foreign exchange account(s) election', 'Hedging financial arrangements method', 'Reliance on financial reports method' and 'No elections made'.

N511

Acceptable specified country codes are: 'ABW' - Aruba; 'AIA' - Anguilla; 'AND' - Andorra; 'ATG' - Antigua and Barbuda; 'BHR' - Bahrain; 'BHS' - Bahamas; 'BLZ' - Belize; 'BMU' - Bermuda; 'COK' - Cook Islands; 'CUW' - Curacao; 'CYM' - Cayman Islands; 'CYP' - Cyprus; 'DMA' - Dominica; 'GGY' - Guernsey; 'GIB' - Gibraltar; 'GRD' - Grenada; 'IMN' - Isle of Man; 'JEY' - Jersey; 'KNA' - St Kitts and Nevis; 'LBR' - Liberia; 'LCA' - St Lucia; 'LIE' - Liechtenstein; 'MCO' - Monaco; 'MHL' - Marshall Islands; 'MSR' - Montserrat; 'MUS' - Mauritius; 'NIU' - Niue; 'NRU' - Nauru; 'PAN' - Panama; 'SMR' - San Marino; 'SXM' - Saint Martin (Dutch part); 'SYC' - Seychelles; 'TCA' - Turks and Caicos Islands; 'VCT' - St Vincent & the Grenadines; 'VGB' - British Virgin Islands; 'VIR' - US Virgin Islands; 'VUT' - Vanuatu; 'WSM' - Samoa.

N512

Acceptable activity codes are: '1' - Administrative services; '2' - Advisory services; '3' - Asset management; '4' - Borrowing and lending; '5' - Brokerage; '6' - Cash & trade services; '7' - Construction; '8' - Custody and transaction clearing services; '9' - Derivatives; '10' - Distribution and sale of goods; '11' - Financing activities; '12' - Guarantees; '13' - Insurance and reinsurance; '14' - Leasing; '15' - Licensing or transfer of intellectual property; '16' - Logistics; '17' - Manufacturing and sale of goods; '18' - Media, telecommunications and information Services; '19' - Primary production/Extraction and sale of goods; '20' - Purchase and distribution of goods; '21' - Purchase and manufacture of goods; '22' - Receipt/payment of dividends and distributions from trusts and partnerships; '23' - Retail trade; '24' - Sales and marketing services; '25' - Securitisation services; '26' - Software and information technology services; '27' - Superannuation; '28' - Technical services; '29' - Toll manufacturing services; '30' - Treasury related services; '31' - Underwriting services; '32' - Utilities and Infrastructure'; '99' - Other.

N513

Acceptable arm's length pricing methodology codes are: '01' - Apportionment of costs; '02' - Apportionment of income; '03' - Comparable uncontrolled price method; '04' - Cost-contribution arrangement; '05' - Cost plus method; '06' - Fixed mark up applied to cost; '07' - Fixed percentage of resale price; '08' - Marginal costing; '09' - Profit split method; '10' - Resale price method; '11' - Transactional net margin method; '12' Transactional net margin method (whole-of-entity); '13' - Other arm's length methods; '14' - No transfer pricing method used.

N514

Acceptable main capital asset pricing methodology codes are: '1' - Cost price; '2' - Directors valuation; '3' - Discounted cash flow; '4' - Independent valuation; '5' - Nil consideration; '6' - Quoted market price; '7' - Written-down value; '8' - Other methods.

N515

Acceptable derivative codes are: '1' - Cross currency interest rate swap; '2' - Currency derivative (not cross currency interest rate swap), including currency swap, forward, future or option; '3' - Fixed for floating interest rate swap (not cross currency); '4' - Other interest rate derivative (not cross currency); '5' - Credit default swap; '6' - Commodity derivative including commodity swap, forward, future or option; ''7' - Other asset swap; '8' - Other derivative.

N516

Acceptable nature of item codes are: '1' - Company shares; '2' - Contract manufacturing; '3' - Contractual interests; '4' - Deposits/investment assets; '5' - Derivative portfolio; '6' - Insurance policies; '7' - Insurance recapitalisation; '8' - Intellectual property/intangibles; '9' Interests in trust, partnership or other entity type; '10' - Loan assets; '11' - Loan liabilities; '12' - Marketing hubs; '13' - Real property; '14' - Shared services; '15' - Shipping; '16' - Trading activities; '17' - Other assets; '18' - Other functions; '19' - Other liabilities; '20' - Other risks.

N517

Acceptable exemption codes.

'1' - 102AAT(1)(a)(i)(A) to (D) - The transfer was: made to a non-resident discretionary trust; an arm's length transaction undertaken in the ordinary course of business.

'2' - 102AAT(1)(a)(i)(A) to (C) & (E) - The transfer was: made to a non-resident discretionary trust; an arm's length transaction not undertaken in the ordinary course of business; neither the transferor or its associates were in a position to control the trust (from the time of the transfer until the end of the transferor's current year of income).

'3' - 102AAT(1)(a)(i)(A) to (C) & (F) - The transfer was: made to a non-resident discretionary trust; made either on or before 12 April 1989; neither the transferor or its associates were in a position to control the trust (from 12 April 1989 until the transferor's current year of income). This exemption will not apply to transfers made in the last three income years.

'4' - 102AAT(1)(a)(ii)(A) to (C) - The transfer was: made to a non-resident non-discretionary trust; made either on or after 12 April 1989; for a consideration equal to or greater than the arm's length amount.

'5' - 102AAT(1)(a)(ii)(A), (B) & (D) - The transfer was: made to a public unit trust (that is a non-resident trust estate); made either on or after 12 April 1989; for a consideration equal to or greater than the arm's length amount; the sole purpose of the transaction was the arm's length acquisition of units in a public unit trust.

'6' - 102AAZE - De minimis exemption - the transfer was: made to a non-resident trust that is a resident of a listed country and the total of the attributable incomes of all non-resident trust estates is equal to or less than the lesser of $20,000 or 10% of the total of the net incomes of the trust estates.

N518

Codes for percentage of dealings with documentation are:

'1' - 0%

'2' - 1% to less than 25%

'3' - 25% to less than 50%

'4' - 50% to less than 75%

'5' - 75% to less than 100%

'6' - 100%

7 - Simplified record keeping method used and percentage is not required

N519

Acceptable codes for value of a restructure are: '1' - $0 to less than $10 million; '2' - $10 million to less than $50 million; '3' - $50 million to less than $100 million; '4' - $100 million to less than $500 million; '5' - $500 million or greater.

N521

The entity or branch indicators are: 'E' - Entity; 'B' - Branch.

N522

Where the table in Part E of the R&D tax incentive schedule is completed the lodging company should be listed first in that table

N523

The specified year for the financial year ended of lodgement is from 2008 or later income year up to and including the current income year.

N524

The valid values are: 'O' - Original; 'A' - Amendment

N525

For Financial year in which the release amount will be included as assessable income, the specified income year must be either 2012 or 2013.

N526

The valid value is 'Y': to accept the refund offer; to accept the refund offer but nominated super fund account is not valid; or to accept the refund offer but do not hold an accumulation interest in any super fund."

N527

Other super fund reason codes are: '1' - I no longer hold an interest in the super fund nominated; '2' - The value of my interest in the super fund nominated is less than 85% of my excess concessional contributions amount; '3' - My interest in the super fund nominated is a defined benefit interest; '4' - My only interest in the super fund nominated is a superannuation income stream.

N528

The codes for 'party to an earnout arrangement' are:

'B' - Yes, as a buyer;

'S' - Yes, as seller; and

'N' - No.

N529

The number of years the earnout arrangement can run for is: 1 to 99.

The year range for the year of the earnout arrangement is: 1 to 99.

N531

Small business 15 year exemption codes are:

'S' - Shares;

'U' - Units in unit trusts;

'R' - Real estate;

'G' - Goodwill on the sale of a business;

'O' - Other assets or where the CGT event does not involve a CGT asset.

N532

The personal services business test indicator for 'unrelated clients', 'employment' or 'business premises' is 'Y'.

N533

Exemption or rollover codes are:

'A' - Small business active asset reduction (subdivision 152-C);

'B' - Small business retirement exemption (Subdivision152-D);

'C' - Small business rollover (Subdivision 152-E);

'D' - Small business 15 year exemption (Subdivision152-B);

'E' - Foreign resident CGT exemption (Division 855);

'F' - Scrip for scrip rollover (Subdivision 124-M);

'H' - Demerger exemption (Subdivision 125-C);

'I' - Main residence exemption (Subdivision 118-B);

'J' - Capital gains disregarded as a result of the sale of a pre-CGT asset;

'K' - Disposal or creation of assets in a wholly-owned company (Division 122);

'L' - Replacement asset rollovers (Division 124);

'M' - Exchange of shares or units (Subdivision 124-E);

'N' - Exchange of rights or options (Subdivision 124-F);

'O' - Exchange of shares in one company for shares in another company (Subdivision 124-G);

'P' - Exchange of units in a unit trust for shares in a company (Subdivision 124-H);

'Q' - Trust restructure rollover (Subdivision 124-N);

'R' - Demerger rollover (Subdivision 125-B);

'S' - Same asset rollovers (Division 126);

'T' - Small Business Restructure Roll-over (Subdivision 328-G);

'X' - Other exemptions and rollovers. Code G is not valid for the trust form.

N535

Exemption or rollover codes are:

'A' - Small business active asset reduction (subdivision 152-C);

'B' - Small business retirement exemption (Subdivision152-D);

'C' - Small business rollover (Subdivision 152-E);

'D' - Small business 15 year exemption (Subdivision152-B);

'E' - Foreign resident CGT exemption (Division 855);

'F' - Scrip for scrip rollover (Subdivision 124-M);

'I' - Main residence exemption (Subdivision 118-B);

'J' - Capital gains disregarded as a result of the sale of a pre-CGT asset;

'K' - Disposal or creation of assets in a wholly-owned company (Division 122);

'L' - Replacement asset rollovers (Division 124);

'M' - Exchange of shares or units (Subdivision 124-E);

'N' - Exchange of rights or options (Subdivision 124-F);

'O' - Exchange of shares in one company for shares in another company (Subdivision 124-G);

'P' - Exchange of units in a unit trust for shares in a company (Subdivision 124-H);

'R' - Demerger rollover (Subdivision 125-B);

'S' - Same asset rollovers (Division 126);

'T' - Small Business Restructure Roll-over (Subdivision 328-G);

'X' - Other exemptions and rollovers. Codes G, H and Q are not valid for the individual form.

N536

Exemption or rollover codes are:

'A' - Small business active asset reduction (subdivision 152-C);

'B' - Small business retirement exemption (Subdivision152-D);

'C' - Small business rollover (Subdivision 152-E);

'D' - Small business 15 year exemption (Subdivision152-B);

'E' - Foreign resident CGT exemption (Division 855);

'F' - Scrip for scrip rollover (Subdivision 124-M);

'G' - Inter-company rollover (Subdivision 126-B);

'H' - Demerger exemption (Subdivision 125-C);

'J' - Capital gains disregarded as a result of the sale of a pre-CGT asset;

'K' - Disposal or creation of assets in a wholly-owned company (Division 122);

'L' - Replacement asset rollovers (Division 124);

'M' - Exchange of shares or units (Subdivision 124-E);

'N' - Exchange of rights or options (Subdivision 124-F);

'O' - Exchange of shares in one company for shares in another company (Subdivision 124-G);

'P'- Exchange of units in a unit trust for shares in a company (Subdivision 124-H);

'R' - Demerger rollover (Subdivision 125-B);

'S' - Same asset rollovers (Division 126);

'T' - Small Business Restructure Roll-over (Subdivision 328-G);

'X' - Other exemptions and rollovers.

Codes I and Q are not valid for the company form.

N537

Valid Values:

'Y' - Conduit foreign income has been included in the balance of unfranked non-portfolio dividend account at year end

'N' - Conduit foreign income has not been included.

N538

Acceptable DTA Country codes are:

'FIN' = Finland

'FRA' = France

'GBR' = United Kingdom of Great Britain & N. Ireland

'JPN' = Japan

'NOR' = Norway

'NZL' = New Zealand

'USA' = United States of America

'ZAF' = South Africa.

N539

Other refundable tax offsets codes are:

'S' - The tax paid by the trustee as a refundable tax offset for the principal beneficiary of a Special Beneficiary Trust

'M' - Multiple offsets claimed.

Exemption or rollover codes are:

'A' - Small business active asset reduction (subdivision 152-C)

'B' - Small business retirement exemption (Subdivision152-D)

'C' - Small business rollover (Subdivision 152-E)

'D' - Small business 15 year exemption (Subdivision152-B)

'F' - Scrip for scrip rollover (Subdivision154-M)

'L' - Replacement asset rollovers (Division 124)

'M' - Exchange of shares or units (Subdivision 124-E)

'N' - Exchange of rights or options (Subdivision 124-F)

'O' - Exchange of shares in one company for shares in another company (Subdivision 124-G)

'P' - Exchange of units in a unit trust for shares in a company (Subdivision 124-H)

'Q' - Trust restructure rollover (Subdivision 124-N)

'S' - Same asset rollovers (Division 126); 'X' - Other exemptions and rollovers.

Codes E, G, H, I, J, K, R and T are not valid for the Fund form.

N541

Where the Private Health Insurance policy Benefit code valid values are 30, 31, 35, 36, 40 and 41. Based on the maximum age of a person covered under the policy, the Benefit code indicates the amount of entitlement to the Private Health Insurance Rebate.

N542

Where the Private Health Insurance policy Tax claim codes are:

'A' - You were single on 30 June 2017 and had no dependants

'B' - you are a single parent with a dependent child or children, or you have a dependent sibling

'C' - you had a spouse on 30 June 2017, or you had a spouse who died during the year and you did not have another spouse before the end of the year, and you are claiming your share of the rebate entitlement in relation to the policy, or you are claiming for a dependent child only policy

'D' - you had a spouse on 30 June 2017, or you had a spouse who died during the year and you did not have another spouse before the end of the year, and you were covered by the same complying private health insurance policy for the same amount of time, and You claimed your share of the policy using Tax claim code C and you are claiming your spouse's share of the rebate entitlement in relation to the policy

'E' - you had a spouse on 30 June 2017, and you were covered by the same complying private health insurance policy, and your spouse is claiming your share of the rebate entitlement for you in their tax return

'F' - If you are a dependent child on a family private health insurance policy or you are covered by a dependent child only policy, you are therefore not entitled to any private health insurance rebate.

N543

Which method did you use to calculate your exempt current pension income? codes are:

'B' - Segregated assets method,

'C' - Unsegregated assets method and

'X' - Both methods.

N544

Was an actuarial certificate obtained code is: 'Y' - Yes.

N545

Lump sum payment codes are:

'A' - Life benefit for member 60 years old or older

'B' - Life benefit for member less than 60 years old

'C' - Death benefit (to a dependant)

'D' - Death benefit (to a non-dependant)

'E' - Terminal medical condition benefit

'F' - Other lump sum benefit type (for example, Permanent incapacity, Severe financial hardship, Approved compassionate payment)

'G' - Release authority payment (for example, ECT)

'H' - Lump sum benefit paid to a KiwiSaver scheme under Trans-Tasman Retirement Savings Portability arrangements.

N546

Income stream payment codes are:

'M' - Life benefit for member 60 years old or older (other than transition to retirement)

'N' - Life benefit for member less than 60 years old (other than transition to retirement)

'O' - Transition to retirement

'P' - Death benefit (dependant) where the member died at 60 years old or older or where the recipient is 60 years old or older

'Q' - Death benefit (dependant) where the member died before age 60 and recipient is under 60 years of age

'R' - Other income stream type (for example, Temporary incapacity, Permanent incapacity).

N547

The ETP code is shown on the PAYG payment summary - employment termination payment. If it is not on the payment summary contact the payer otherwise select one of the following valid codes for the ETP code box:

'R' - excluded life benefit termination payment for early retirement scheme, genuine redundancy, invalidity, compensation for personal injury, unfair dismissal, harassment, discrimination;

'S' - excluded life benefit termination payment that is part of an excluded or non-excluded payment or transitional termination payment made in an earlier income year for the same termination of employment;

'O' - non-excluded life benefit termination payment for golden handshake, gratuity, payment in lieu of notice, payment for unused sick leave, payment for unused rostered days off;

'P' - non-excluded life benefit termination payment that is part of an excluded or non-excluded payment or transitional termination payment made in an earlier income year for the same termination of employment;

'D' - death benefit termination payment paid to a dependant;

'N'- death benefit termination payment paid to a non dependant;

'B' - Death benefit termination payment paid to a non dependant that is part of a payment made in an earlier income year for the same termination of employment.

N548

Where your software estimates a refund ^ABV must be present or the return may not be submitted electronically.

N549

Provider type codes are:

'P' - Public offer super fund;

'N' - Non public offer super fund;

'S' - Public sector superannuation scheme;

'X' - Exempt public sector super schemes;

'C' - Constitutionally protected fund;

'D' - Approved deposit fund;

'E' - Eligible rollover fund;

'A' - Small APRA fund;

'R' - Retirement savings account.

These groups and entries should be treated as aliases and presented with the same groups and entries as their main group:

Registered nurse -> Nurse

Agricultural labourer -> Farm hand/worker

Doctor -> Medical practitioner

Medical specialist -> Medical practitioner

RAAF -> Air force

RAN -> Navy

Soldier -> Army

Sailor - defence -> Navy.

If occupation descriptions are not presented as a multi-level list these aliases may be made by duplicating all the occupation descriptions starting with the target (eg "Air force - ") with the duplicates replacing the part before the " - " with the alias text (e.g. "RAAF - "), so every entry for "Air force" will have a matching entry starting "RAAF".

N561

If the occupation descriptions are provided as a multi-leveled list, special entries should be included:

'ADF'

'Australian Defence Force'

'Pilot - defence'.

These entries should direct tax agents to choose from either Air force, Army or Navy.

Another special entry 'Public servant - local government' should also be included and should direct tax agents to "Select a specific occupation description (e.g. town planner)"

N562

Entity type is: '1' - Small business entity.

N563

The item 7 labels Income year earnout right created and Amended net capital gain or capital losses carried forward can only be completed at the time the current year return is lodged. Subsequent amendments to these labels cannot be made electronically. To amend or include these details at a later date, lodge a written request for manual amendment to the ATO.

N564

Other refundable tax offsets codes are:

'E' - The exploration credit refundable tax offset;

'M' - Multiple offsets claimed.

Code 'S' is not applicable the trust form.

N566

The significant global entity code is '1'.

N567

Non-refundable carry forward tax offsets codes are:

'E' - Early stage investor tax offset;

'V' - Early stage venture capital limited partnership tax offset;

'M' - Claiming for more than one type of offset.

N568

The Gross payment code is:

'H'- payments made to a working holiday maker.

N569

Non-resident foreign income income assessment method codes are:

'S' - Simple self-assessment method;

'O' - Overseas assessed method;

'C' - Comprehensive tax-based assessment method.

The 'Deduction median rate' is based on the first four characters of the selected Foreign occupation code. The deduction rates should be derived from the provided rate information based on the occupation selected at ^KIV.

N571

Acceptable transaction types are:

'1' - IRP ordinary borrowings;

'2' - IRP ordinary loans;

'3' - IRP trade related liabilities;

'4' - IRP trade related receivables;

'5' - IRP other debt interests issued;

'6' - IRP other debt interests acquired;

'7' - Other IRP liabilities/payables;

'8' - Other IRP assets/receivables.

N572

Acceptable currency codes are:

'USD' - US Dollar;

'EUR' - Euro;

'GBP' - British Pound;

'JPY' - Japanese Yen;

'CNY' - Chinese Yuan Renminbi;

'KRW' - South Korean Won;

'NZD' - New Zealand Dollar;

'AED' - UAE Dirham;

'HKD' - Hong Kong Dollar;

'CAD' - Canadian Dollar;

'MYR' - Malaysian Ringgit;

'SEK' - Swedish Krona;

'INR' - Indian Rupee;

'CHF' - Swiss Franc;

'SGD' - Singapore Dollar;

'AUD' - Australian Dollar, if functional currency under Subdivision 960-D is not AUD.

N573

If the calculation of Working holiday maker net income results in an overall loss, zero must be recorded at item A4.