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:
- C Gross interest item 10
- D Net foreign income item 10
- D1 Gross foreign income item 10
- I Gross distribution from partnerships item 10
- J Unfranked dividend amount item 10
- N Trust distributions unfranked amount item 10
- Q Trust distributions other amounts item 10
- G Foreign Exchange Gains item 10
- S Other income item 10
- A Interest expenses within Australia item 11
- B Interest expenses overseas item 11
- R Foreign exchange losses item 11
- L Other deductions item 11.
You should take into account only once an amount at one of H, I and J.