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  • O Allocated earnings or losses



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

    End of attention

    If you could not include an amount of a transaction at the contribution questions A to M, and cannot include it at P Inward rollovers and transfers, Q Outward rollovers and transfers, R1 Lump sum payments, or R2 Income stream payment, include it at O Allocated earnings or losses.

    Did the SMSF allocate any earnings, losses, taxes or expenses to the member?


    Leave O blank. Go to P.


    Read on.

    Write at O the sum of:

    • all earnings allocated to this member


    • expenses (including taxes) and losses allocated to this member.

    If the amount at O is a loss, print L in the box to the right of the amount.

    Include at O any transactions affecting the member’s closing balance that you have not included at another question in Section F or Section G. For example, the amount at O could include:

    • investment earnings allocated to the member's account
    • expenses allocated to the member's account
    • gains and losses allocated to the member's account
    • payments received for the member under an insurance policy held by the SMSF for death or disability cover
    • allocations from reserves that are not included at either K Transfer from reserve: assessable amount or L Transfer from reserve: non-assessable amount (for more information see Transfers from reserves that are not included at K or L).
    Last modified: 13 Feb 2019QC 44344