• S Other income

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

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    Show at S the assessable amount of any income received that does not fall into any of the other categories shown at A to Uat this item. Other income may include, but is not limited to, the following categories.

    Foreign exchange (forex) gain

    Include at S any assessable forex gains that have not been shown at any other category of income.

    Listed investment company (LIC) capital gain amount

    If a complying superannuation fund, ADF or PST receives a distribution from a partnership or a trust, and that partnership or trust claimed a deduction for a LIC capital gain amount, then the superannuation fund, ADF or PST must add back as income one-third of their share of the deduction claimed by the partnership or trust and include the amount at S.

    If a non-complying superannuation fund or ADF receives a distribution from a partnership or a trust, and that partnership or trust claimed a deduction in respect of a LIC capital gain amount, then the non-complying superannuation fund or ADF must add back as income their share of the deduction claimed by the partnership or trust and include the amount at S.

    Assessable balancing adjustment amounts

    If the superannuation entity ceases to hold or to use a depreciating asset, it will need to calculate a balancing adjustment amount to include at S as assessable income or to claim as a deduction at L Other deductions item 11. See Guide to depreciating assets 2009 for more information.

    Rebate or refund of premium paid to provide death or disability benefits

    Show at S rebates and refunds that a complying fund receives and that are attributable to insurance policy premiums paid by the fund to provide superannuation death benefits. Disability superannuation benefits and benefits payable because of a person's temporary inability to engage in gainful employment is assessable income where the premium has been allowed or is allowable whole or in part as a deduction.

    Gross payments subject to foreign resident withholding

    Show at S gross payments made to the fund that were regulated foreign resident income. Gross payments include amounts of tax withheld. Do not include at S gross distributions of regulated foreign resident income from partnerships and trusts. Instead, include distributions from partnerships at I Gross distributions from partnerships and include distributions from trusts at Q Trust distributions other amounts.

    Regulated foreign resident income refers to payments which are prescribed in the Taxation Administration Regulations 1976 as being subject to the foreign resident withholding measure.

    Do not include payments where the amount was varied to nil under the foreign resident withholding measure because the income was not taxable under a double-tax agreement.

    Complete a Non-individual PAYG payment summary schedule 2009. For instructions on completing this schedule, refer to Schedules.

    If you show a credit at F2 Credit: foreign resident withholding item 12 for tax withheld, you must include the corresponding gross payment at D1 Gross foreign income (except where the credit is from partnership or trust distributions).

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    Show gross payment even if the credit is nil.

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    Gross distributions of foreign resident regulated income from a partnership or trust will not have an associated payment summary.

    Print in the Code box the code from table 5 that best describes the greatest amount included at S Other income.

    Table 5: Other income codes

    Code

    Type

    F

    Forex gains

    C

    LIC capital gain amount

    B

    Assessable balancing adjustment amount

    R

    Rebate or refund of premium paid to provide death or disability benefits

    W

    Gross payments subject to foreign resident withholding

    O

    Other income received not listed above

    Last modified: 25 Nov 2009QC 21714