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Other transactions

Last updated 26 May 2021

At O to R2, show transactions for the member in 2020–21 that were not contributions included at questions A to M:

O Allocated earnings or losses

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 payments, 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.