Coding the T&C Miscellaneous Details (TRMD) screen 043-04160020

The Attribution Period Review Date is the date the Attribution Period will be reviewed.

The Attribution Period is reviewed annually and occurs automatically on the date the trust and/or company's future review activity (TAC/TNR) matures.

This is a ‘display only’ field and will always match the program review date on the Future Activity List (FAL) screen.

The Event Date field appears twice on the screen:

• line 9, and
• line 17

The date cannot be:

• in the future, or
• more than one year in the past

Enter the date on:

• line 9 when recording the financial year
• line 17 when recording a Customer Estimate, Discretion or Concession Applied indicator

The date of event (DOV) is the actual date a particular change happened.

The DOV is usually the date the tax returns and financial statements are prepared. If a notifiable event happened before this date, use the date of that event instead.

If the DOV is more than one year in the past, use the earliest possible date.

Use the DOV for the most recent financial year where a retrospective assessment is being completed for multiple financial years, in the same activity.

The ITR Financial Year: the financial year a tax return and associated documentation was provided to assess the organisation.

Future financial years cannot be used.

This field is mandatory for program reviews.

Date Last Review Issued: is a display only field.

Type Last Review: is a display only field. Values may be:

• 'TAN' - program review
• 'TES' - customer estimate review
• 'TDI' - discretion applied review

The Estimate Applied field is used if the latest organisation income tax return and supporting documents do not accurately reflect the organisation's current income.

Valid values are 'Y' or blank.

In Customer First create a manual review on the Activity Registration (AYR) screen and complete the fields as follows:

• Service Reason: TRF
• Activity Type: TRV
• Source: INT
• Date of Receipt: today’s date
• Review Reason: TES (Trust & Co Estimate Rev)
• Resubmit Date: date a new interim P&L should be requested. May be 3 or 6 months
• Action: MFR (Manual follow up review)
• Action Date: as per Resubmit Date
• Keywords: leave blank
• Proceeds With Activity?: N
• Transfer to Region: leave blank
• Notes: 'Estimate of income applied. See OB 043-04160010 to action.'

The review will mature on the Resubmit Date coded in the AYR activity. Workload Management will allocate the review for manual action.

The Discretion Applied: if the Complex Assessment Officer (CAO) has made a specific determination in relation to all relevant circumstances when applying the attribution, but this decision is intended to apply temporarily or is subject to later review (e.g. a case involving a pending Family Court settlement).

Values are 'Y' or blank.

Determinations should be reviewed after six months. The type of review when discretion is applied is 'TDI'.

The Farmer Concession Applied: if a primary producer's attribution is subject to a limited appointorship concession.

Valid values are 'Y' or blank.

This field can only be keyed on a trust, not a company.

No review is required.

Type of Organisation: is a mandatory field:

• Valid values for trust type organisations are:
  • 'DEC' - deceased estate trust
  • 'DIS' - discretionary trust
  • 'FIX' - fixed trust
  • 'HYB' - hybrid trust
  • 'NTT' - non trading trust
  • 'F95' - fixed trust pre-9/5/2000
  • 'SDT' - special disability trust
• The valid codes for company type organisations are:
  • 'COY' - Small proprietary company
  • 'TRC' - Trustee Company with no income or assets (apart from nominal share capital)

Note: from 28 November 2012, companies which only operate as a trustee company, (that is, they do not operate in their own right, or hold any assets or liabilities in their own name), no longer have records created.

The Main Business Activity: field is mandatory. Only one type of business can be recorded per organisation. Valid values are:

• 'FRM' - Farming
• 'RUR' - Rural business
• 'RST' - Real estate
• 'FIS' - Financial investments
• 'RTL' - Retail
• 'SVC' - Service
• 'TRA' - Trade

Before coding an entity as wound up, staff must check if a service profiling review has started on the entity record. Coding the entity as wound up:

• stops future service profiling reviews from starting
• does not remove existing TRF/TRV activity from the Future Activity List (FAL) screen

If a profiling review has started:

• remove the activity from FAL
• use the activity to code the wind-up

This avoids incorrect reminder letters, suspensions, or cancellations. For more details see Program, discretion and estimate reviews and reminders for private trusts and private companies.

Note: do not remove or select the TRF/TNR activity from the FAL screen under any circumstances. This will stay on FAL even after the entity is wound up.

When a company is deregistered or a trust has vested, update any recorded values to zero for:

• attribution
• distribution
• income
• assets
• liabilities

Income or assets attributed or distributed from another organisation must also be zero:

• check attribution on all linked trusts and companies
• reassess where required

Once checks are complete set the Wound Up: field to Y. This stops:

• automatic future reviews, including review letters, and
• any further update of all screens. Note: the TRMD entry for 'Wound Up' can be deleted if it is incorrect

After updating the TRMD screen, complete the activity. In a new activity, go to the Organisation Name Details (OND) screen and update the entity name by adding the following text to the end of the name:

• for companies, add deregistered. For example, ABC Pty Ltd deregistered
• for trusts, add vested. For example, ABC Trust vested