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  • Completing your tax return



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    For the Tax Office to work out your income averaging, you must complete Z item 22 on your 2004 tax return for individuals (supplementary section) - see step 3 of the instructions for item 22 in TaxPack 2004 supplement.

    The amount to write at Z is your assessable professional income less the amount at 1 as described above. DO NOT DEDUCT any apportionable deductions - for example, gifts to charity which you have shown at item D8 of your tax return. The Tax Office will take these into account as required by 2 to work out your TPI and your income averaging.

    At V item 22, write the total of your category 2 other income - see Other income in question 22, TaxPack 2004 supplement - including the amount you have worked out for Z item 22. Do not include any amounts already shown at items 1, 2, 12, 13 or 14 on your tax return. If you have not shown your TPI at other items on your tax return, you must include it at V item 22. If you include your TPI at V, do not claim at items D1 to D10 or D11 to D15 on your tax return any deductions you used to work out that income.

    Last modified: 01 Dec 2006QC 27534