• Using the worksheets to work out FIF income

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    Record the reduction of FIF income in the relevant worksheet at the label dealing with a reduction for distributions of the type to which subsection 530(1) applies. If you have already shown an amount at the label referred to, add the amount of the reduction you can claim to that amount.

    Use Worksheet 1, part 3, label J - if you are using the market value method.

    Use Worksheet 2, part 4, label G- if you are using the deemed rate of return method.

    Use Worksheet 3, part 6, label L - if you are using the calculation method.

    Use Worksheet 4, part 4, label G - if you are using the deemed rate of return method for FLPs.

    Use Worksheet 5, part 3, label L - if you are using the cash surrender value method for FLPs.

    Last modified: 27 May 2005QC 17512