To work out S:
- add
- T5 Tax payable
- G Section 102AAM interest charge
- L Supervisory levy
- N Supervisory levy adjustment for new funds
- and then subtract
- H Eligible credits
- I Tax offset refunds
- K PAYG instalments raised
- M Supervisory levy adjustment for wound-up funds.
S Amount due or refundable can be zero, positive or negative:
- a positive amount is what you must pay to us
- a negative amount is the refund that you will receive.
If the amount at S is negative, write '–' to the left of the amount that you put at S.
If the amount at S is negative, complete 7 Electronic Funds Transfer in Section A to receive the refund.
If the SMSF has made any interim or voluntary payments against its 2017–18 tax liability:
- do not take the payments into account when working out the amount at S
- take the payments into account when working out the amount you must pay to us.
Do not attach any payment to the annual return.
For more information, see Payment.
Record keeping
The SMSF must keep:
- all documentation issued by financial institutions detailing
- payments of income
- any TFN amounts deducted from those payments
- details of any TFN amounts deducted from the SMSF's income payments and subsequently refunded to the SMSF by the financial institution.
Where an amount is refunded the SMSF must keep details of the:
- amount of refund
- date of refund
- investment reference number, for example, the bank account number of the investment relating to the refund.