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  • B Gross rent and other leasing and hiring income

    Did the SMSF earn income from renting, leasing or hiring of land, buildings or other assets?


    Leave B blank. Go to Section C: Deductions and non-deductible expenses (item 12).


    Read on.

    Write at B the total income that the SMSF earned from renting, leasing and hiring of land, buildings and other assets. The amount at B should not be reduced by any loss or outgoing related to the income.

    If you include an amount at B that is exempt current pension income, include it also at Y Exempt current pension income.

    Do not include at B rental, leasing or hiring income that is:

    • derived from foreign sources (write it at D1 Gross foreign income)
    • part of a distribution from a partnership (write it at I Gross distribution from partnerships)
    • included in a share of net income from a trust (write it at M Gross trust distributions)
    • non-arm's-length income of a complying SMSF (write it at U3 Net other non-arm's-length income).

    Example: Rent, leasing or hiring income

    In 2017–18, SMSF B rented a house (at arm's length) to a tenant. The tenant paid a total of $15,000 in rent.

    SMSF B reports $15,000 at B Gross rent and other leasing and hiring income.

    End of example
    Last modified: 30 Mar 2021QC 55254