Superannuation Consolidated

Other income and expenses

Statement Purpose
The purpose of this statement is to aggregate the accounting and tax amounts of all entities within the group for other income and expenses, and, if necessary, allow users to make any group-level non-temporary and temporary adjustments.

Data Flow

Accounting segment
 — The amounts in the accounting segment for both the
Other income
 and
Expenses
 sections are linked from the entities within the group. Any group adjustments made in
Income Statement
 will be reflected under
Group Adjustments
.
Non-temporary differences segment
 — The total non-temporary differences are linked to the
Tax income reconciliation
 statement. The amount is linked from entities within the group.
Temporary differences segment
 — The total temporary differences for both opening and closing are linked to the
Tax income reconciliation
 statement. The amount is linked from entities within the group.
Expenses – capitalised domestic/foreign
 — Any expenses capitalised in the entities within the group will be reversed here.
Non-temporary ECPI addback
 — The amount of non-deductible adjustment flows from each entity within the group.
The category totals and subtotals within the tax segment for the Other income section flow to the following statements:
  • The
    Domestic other income
     links through to the
    Statement of taxable income
    .
  • The
    Total foreign tax
     amount links through to the
    Foreign sourced income
     statement.

Explanation of Fields

Tax segment
Except for specifically listed line items, this segment is calculated as: accounting income + non-temporary differences + temporary differences + ECPI addback adjustments entered.

Signage

The signage settings are as follows:
  • Increases to the assessable
    other income
     amount are entered as positive amounts.
  • Decreases to the assessable
    other income
     amount are entered as negative amounts.
  • Increases to the deductible
    expenses
     amount are entered as negative amounts.
  • Decreases to the deductible
    expenses
     amount are entered as positive amounts.

This article applies to:

  • Product: ONESOURCE Corporate Tax