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  • 6 Calculation of total profit or loss

    Attention

    Warning:

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

    End of attention

    Income

    Complete the following items where applicable:

    Gross interest

    At F write the amount of interest received or credited during the income year.

    Exclude interest from proprietors for late payment of levies.

    Gross rent and other leasing and hiring income

    At G write the total of these types of income received.

    Individual proprietors may be taxed on this type of income, rather than the body corporate, where it is income from common property.

    Other gross income

    At R write the total of other gross income, for example, inspection fees or access fees, except where received from a proprietor. Do not include receipts that are subject to the principle of mutuality.

    Total income

    At S write the total of amounts shown at F, G and R.

    See also:

      Last modified: 12 Feb 2019QC 48238