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Exempt income

Last updated 14 February 2022

Determined trust components

Enter the total amount of your determined trust components (incorporating any applicable unders or overs and rounding or other adjustments under Subdivision 276-F) of all your characters relating to exempt income (as defined in section 6-20 of the ITAA 1997).

Exempt income is worked out for the purposes of trust components from the perspective of the trustee and under the assumptions in section 276-265 of the ITAA 1997 that the trustee was liable to pay tax and was an Australian resident.

The amount you show at this item is the amount of net exempt income (worked out under section 36-20) remaining after the calculation of any 2019–20 tax losses and the application of any prior year tax losses under sections 36-10 and 36-15 respectively.

QC62633