Tax time 2011 product changes

TaxPack publications

Individual tax return (for tax agents) (NAT 1371)	Inclusion of EFT refund option text and fields Item 12: Employee share schemes (ESS): label G - changed text to 'Discount on ESS interests acquired before 1 July 2009 and 'cessation time' occurred during the financial year' Item D4: changed text from 'Work-related self-education expenses' to 'Self-education expenses' Item 13: Partnerships and trusts - under Share of credits from income and tax offsets - new label M - Credit for TFN amounts withheld from payments from closely held trusts Item 19: Foreign entities - removed the following labels: label J - Did you have an interest in a foreign investment fund (FIF) or a foreign life assurance policy (FLP)? label C - FIF and FLP income Item D11: Australian film industry incentives - label G removed Items D12-D16 renumbered to D11-D15 Removal of TOFA section, heading, item F1 and label D.
Tax return for individuals (NAT 2541)	Same as changes made to Individual tax return (for tax agents) (NAT 1371). See above.
TaxPack (NAT 0976)	Various changes made to the instructions to align with changes to the Tax return for individuals 2011 form, including the following: EFT refund Cyclical updates to the following rates and thresholds Student Financial Supplement Scheme (SFSS) Higher Education Loan Program (HELP) Work-related expenses - Cents per kilometre and luxury car tax threshold Education tax refund Medicare levy and Medicare levy surcharge Pensioner tax offset Tax rates and thresholds - LITO, DTO, DIV6AA and senior Australians tax offset (SATO) Amendment to Division 392-80(3) of the Income Tax Assessment Act 1997 (ITAA 1997) - to exclude apportionable deductions Item D4: Self-education expenses Items 1, 5, T1 and A3 to reflect Paid Parental Leave TaxPack privacy notice Signature instructions - various sections Super information in the 'What's new' section.
Business and professional items schedule (NAT 2816)	No changes.
Tax return for individuals (supplementary section) (NAT 2679)	Item 13: Partnerships and trusts - under Share of credits from income and tax offsets - new label M - Credit for TFN amounts withheld from payments from closely held trusts Item 19: Foreign entities - removed the following labels: label J - Did you have an interest in a foreign investment fund (FIF) or a foreign life assurance policy (FLP)? label C - FIF and FLP income Item D11: Australian film industry incentives - label G removed Items D12-D16 renumbered to D11-D15 Removal of TOFA section, heading, item F1 and label D Signature field, date field and related text removed.
TaxPack supplement (NAT 2677)	Various changes made to the instructions to align with changes to the Tax return for individuals (supplementary section) 2011, including: Item 13: Partnerships and trusts - under Share of credits from income and tax offsets - new label M - Credit for TFN amounts withheld from payments from closely held trusts Signature instructions - various sections Amendment to Division 392-80(3) of the ITAA 1997 - excluding apportionable deductions T13 Entrepreneurs tax offset (ETO) Items 1, 5, T1 and A3 to reflect Paid Parental Leave Net medical expenses tax offset E-tax calculation of foreign income tax offset at questions 16 and 20. The following instructions have been deleted FI Taxation of financial arrangements (TOFA) 3 and 4 item 19: Foreign entities - removed the following labels - label J - Did you have an interest in a foreign investment fund (FIF) or a foreign life assurance policy (FLP)? - label C - FIF and FLP income item D11 - Australian film industry incentives - label G - removed items D12-D16 renumbered to D11-D15.
Short tax return (NAT 8416)	Inclusion of EFT refund option text and fields Section D: Tax offsets - item 32 Dependent spouse, no dependent children - label P - Hard code type 'S' added.
Short tax return instructions (NAT 8417)	Various changes made to the instructions to align with changes to the Short tax return for individuals 2011, including the following: EFT refund instructions on page 12 Cyclical updates to the following rates and thresholds SFSS HELP Items 14, 16 and 32 to reflect Paid Parental Leave TaxPack privacy notice - page 52.

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