Mixed Use Asset workpaper (MUA)

The Mixed Use Asset (MUA) workpaper calculates mixed-use asset adjustments for a property that is used both privately and to earn income. It takes into account rental income, expenses, GST registration status and how the property was used.

Availability

• MUA is an independent workpaper. It does not require COA Mapping or a Parent Code.

• Add it manually from the Workpaper Bank. Once you enter a value, it moves to the Assets category.

Data extraction

• GST Registration Status and Entity Type are picked up automatically from Job Setup.

• These values drive the calculations but are not shown on the workpaper.

Eligibility check

The workpaper calculates the property's total unused days.

• Fewer than 62 unused days: the workpaper shows the message "Mixed Use Asset rule did not apply to this property because it has been unused for less than 62 days." All content below the eligibility section is hidden.

• 62 or more unused days: the full workpaper is available.

GST-based columns

• GST registered: only the GST Registered calculation columns are shown.

• Not GST registered: only the GST Not Registered calculation columns are shown.

Rental income

Record:

• Rental income through an online marketplace

• Rental income through your own sources

• Flat rate credits

The workpaper calculates GST, Net Rental Income, assessable and non-assessable flat rate credits, and Total Rental Income.

Expenses

For each expense category, the workpaper applies the GST claimable rules for that category and calculates:

• Gross Amount

• GST Amount

• Deductible Amount

It then calculates Total Deductible Expenses and the Net Profit or Loss.

Property value

Enter the Land Value and Building Value. The workpaper calculates the Total Property Value, which is used in the opt-out assessment.

Opt-out assessment

The workpaper works out whether the taxpayer can opt out of the mixed-use asset rules, using:

• Gross Rental Income

• Profit/Loss position

• Property Value

Note: If any of these values are missing, you are prompted to complete them before the assessment can finish.

Adding and removing rows

You can add rows to any income or expense section and delete rows you have added. Formulas, formatting and calculations are kept when rows are added or removed.

Editing

All values you enter remain editable. Any change recalculates the dependent values automatically.

How to access

• Go to Jobs and open the relevant job.

• Click the Workpapers icon or navigate to Job Results then Workpapers.

• Select MUA on the Workpapers Dashboard. If it is not active, add it from the Workpaper Bank.