Show at J the fund's assessable or deductible amount from a transitional balancing adjustment for the income year, as a result of making the transitional election for existing financial arrangements.
If the transitional balancing adjustment is a deductible amount, print L in the Loss box.
Working out the fund's total assessable TOFA gains, deductible TOFA losses, and TOFA transitional balancing adjustment
Ensure you take into account at H, I and J any amount in relation to a TOFA financial arrangement that you have shown at:
- CGross interest item 10
- D1 Gross foreign income item 10
- I Gross distributions from Partnerships item 10
- KUnfranked dividend amount item 10
- N Trust distributions unfranked amount item 10
- Q Trust distributions other amounts item 10
- S Other income item 10
- AInterest expenses within Australia item 11
- B Interest expenses overseas item 11
- LOther deductions item 11.
You should take into account only once an amount at one of H, I and J.