Complete this section if you received, or were entitled to:
- income or loss from a partnership
- a credit for amounts of tax paid on, or amounts withheld from, partnership income
- a share of the 'national rental affordability scheme' tax offset.
For further help about this section, use the left hand side table of contents.
Depreciation and capital allowances tool
You can use the Depreciation and capital allowances tool to work out any deductible decline in value. To access the tool, select the 'Work it out' link in the Deductions section on the Prepare return screen.
Completing this section
You will need:
- A statement of distribution or advice from the partnership showing details in relation to your share of partnership distribution for tax purposes.
If you think that any details are wrong or are missing from the statement of distribution or advice you received from the partnership, contact the managing partner.
- Details of any deductions you can claim against your partnership income that have not already been claimed by the partnership.
We have pre-filled your tax return with partnership information provided to us. Check for partnership distributions you received that are not pre-filled and ensure you add them.
- For each partnership distribution that has been pre-filled in your tax return, add any information not pre-filled.
- For each partnership distribution that has not been pre-filled in your tax return, select Add and enter information.
- Show your share of partnership Primary production and Non-primary production income in the corresponding fields.
- Show your share of partnership Primary production deductions and Non-primary production deductions in the corresponding fields.
If you show an amount at Other deductions, select one of the following Type codes:
- D if the entire amount at Other deductions is a deferred non-commercial business loss from a prior year
- N if the amount at Other deductions does not include any deferred non-commercial business loss from a prior year
- P if only part of the amount at Other deductions is a deferred non-commercial business loss from a prior year.
Note: If you used the Depreciation and capital allowances tool, fields containing information from the tool cannot be directly adjusted in myTax. To make any adjustments to this information, or to add new assets to the tool, select Work it out.
MyTax will automatically calculate the Net primary production and Net non-primary production amounts.
If the partnership income includes professional income you must also include this in the Other income section. For more information see, Professional income.
- Show your partnership share of credits from income and tax offsets in the corresponding fields.
- Select Save.
- MyTax may remind you of partnership distribution amounts you need to include at Other foreign income in the Foreign income, assets and entities section.
- If you conducted a business activity as a partner in a partnership that resulted in a loss, or resulted in a loss after deducting your expenses, you must complete the Loss details section.
- You may be entitled to the small business income tax offset if either of the following apply:
- your partnership distribution included a share of net small business income
- you had a farm management repayment or other amount you received as a partner in a small business entity.
Keep a record of each partnership distribution with your other records.
You need the following information:
- name and tax file number of the partnership
- amount and source of each partnership distribution
- amount of any taxable professional income
- amount and type of deductions claimed, and
- amount and type of any share of credits.