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  • How to use this workbook



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

    End of attention

    Worksheets 1, 2, 3, 4 and 5 will help you complete the summary on worksheet 6 that shows what you need to write at F, G and H item A3 on your 2013 tax return.

    You must complete at least worksheets 1, 2 and 6.

    Foreign source income and foreign entities income

    If you deducted expenses when you worked out the net foreign source income at item 20, show:

    • the gross foreign income amounts from E and F item 20 in worksheet 1, column (b), row 6
    • the expenses amount you deducted for the amounts shown at T, L, D, R and M item 20 in worksheet 2, column (b), row 7.

    If part or all of your foreign source income or foreign entities income is from a partnership, and you included other income of that partnership at item 13, show:

    • the foreign income from the partnership in worksheet 3, row 3, (not in worksheet 1)
    • any related expenses in worksheet 4, row 4 (not in worksheet 2).

    Forestry managed investment scheme

    If you show amounts for forestry managed investment schemes (FMIS) at item 23 or item D14 of your 2013 tax return you need to establish whether:

    • you were an investor in the FMIS
    • you were carrying on a business
    • your investment was solely or jointly owned.

    If we issued a product ruling for the FMIS, it could state whether we consider that you are carrying on a business.

    Farm management deposits and repayments

    If you show amounts for farm management deposits and repayments at item 17, show:

    • the total repayments amount from C+N+R in worksheet 1, column (b), row 4.
    • the total deductible deposits amount from D in worksheet 2, column (b), row 6

    For each worksheet, apportion the total amount in column (b) into columns (c) and (d) depending on the original source of that primary production income. If the income came from:

    • a trust, show it in column (c)
    • you individually, show it in column (d)
    • a partnership, show it in column (d).

    Other income

    If you show an amount at item 24 you need to include it in worksheet 1. Some of that income might be eligible employment or business income.

    Read the definitions of business income, eligible income and employment income in the glossary.

    Completing the worksheets

    Read the definition of joint income group. Work out how many joint income groups you have. If you have more than three, you will need to duplicate the (e) and (f) columns on worksheets 1 and 2 for each extra joint income group.

    Last modified: 04 Jul 2013QC 35242