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Background

This schedule is a master schedule and automatically present when a REIT computation is created, and summarises the REIT tax exempt business profit computation.

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Developing the schedule

In REIT Investment or REIT Trading files, this schedule is developed when the computation is created.

This schedule can also be developed from standard CT Investment and Trading computations. From the A schedule Develop > Other > REIT information.

This schedule is part of a group of schedules relating to tax exempt property businesses.

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Completing the schedule

With the exception of a data entry cell for other profits falling within the tax exempt business, all values within the Computation of profits within the tax exempt business are linked automatically from elsewhere.

Additional data entry rows can be inserted if required to analyse additional tax exempt income.

Loss memo

This is split into two separate sections, showing the utilisation of any REIT property business losses: -

• incurred in the current period; and,
• brought forward from earlier periods.

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Standard sub-schedules

The Company financial statement schedule can be developed from this schedule.

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Carry forward

On building a new period, the losses carried forward are automatically entered on the Loss memo as brought forward figures in the subsequent computation, but only when the REIT type flag on the REIT summary information schedule has NOT been set to Principal member of REIT group.

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Related errors

None.

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