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Introduction

If:

• a potential CT repayment is to be allocated against CT arrears, but not interest or penalties and
• there is a common period during which the repayable tax is attracting repayment interest or has attracted credit interest and
• the CT arrear will attract credit, debit or late payment interest

then COTAX applies common period rules.

»Ê¹ÚÌåÓýapp following action guides, and explain how COTAX applies the rules in different circumstances.

• COM80210 relates to reallocating from tax to tax when the receiving AP is not a QIP case.
• COM80220 relates to reallocating from tax to tax when the receiving AP is a potential or definite QIP.
• COM80230 relates to reallocating from tax to either penalty or interest, regardless of the QIP status of the receiving AP