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SmartStudyBlog.com > Blog > Tax > Australian Tax > Individual Tax Return – ATO
Australian TaxTax

Individual Tax Return – ATO

Emil
Last updated: June 11, 2024 6:06 pm
Emil
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  Individual Income Heads 

 

Contents
  Individual Income Heads Individual Tax Return

Index

Income

Deduction

Losses

Offsets

Medicare

Income Test

Spouse

Business

Estimates

Schedule

Worksheet

Individual Tax Return

Labels

Income

 

1

Salary or wages

 

2

Allowances, Earnings, Tips, Directors’ fees etc

 

3

Employer lump sum payments

 

4

Employment termination payments

 

5

Australian Government allowances and payments

 

6

Australian Government pensions and allowances

 

7

Australian annuities and superannuation 

income streams

 

8

Australian superannuation lump sum payments

 

9

Attributed personal services income

 

10

Gross interest 

 

11

Dividends

-Unfranked Dividend

-Franked Dividend 

-Franking Credit 

 

12

Employee share schemes (Like ESOP Benefit)

 

13

Income from partnerships and trusts

 

14

Personal services income (PSI)

 

15

Net income or loss from business

 

16

Deferred non-commercial business losses (Other than Commercial Business)

 

17

Net farm management deposits or repayments

 

18

Capital gains (from all sources including shares, Trust, real estate and other property)

 

19

Foreign entities

 

20

Foreign source income and foreign assets or property, including foreign source pension or annuity, foreign trust distribution.

 

21

Rent

 

22

Bonuses from life insurance companies and 

friendly societies

 

23

Forestry managed investment scheme income

 

24

Other income (Income not listed elsewhere,)

 
 

Total Income

XXX

   
 

Deductions

 

D1

Work-related car expenses

 

D2

Work-related travel expenses (Bus Fair, Train Expense, CAB)

 

D3

Work-related clothing, laundry and 

dry-cleaning expenses

 

D4

Work-related self‑education expenses

 

D5

Other work-related expenses

 

D6

Low-value pool deduction

 

D7

Interest deductions

 

D8

Dividend deductions

 

D9

Gifts or donations

 

D10

Cost of managing tax affairs

 

D11

Deductible amount of undeducted purchase price of a foreign pension or annuity

 

D12

Personal superannuation contribution

 

D13

Deduction for project pool

 

D14

Forestry managed investment scheme deduction

 

D15

Other deductions – (Deductions not claimable under D1 to D14 or elsewhere on Tax return)

 
 

Total Deduction

xxx

 

Sub Total

xxx

   
 

Losses

 

L1

Tax losses of earlier income years

 
   
 

Tax offsets

 

T1 

Seniors and pensioners 

(Includes self-funded retirees)

 

T2

Australian superannuation income stream

 

T3

Superannuation contributions on behalf of your spouse

 

T4

Zone or overseas forces

 

T5

Invalid and invalid carer

 

T6

Landcare and water facility

 

T7

Early-stage venture capital limited partnership

 

T8

Early-stage investor

 

T9

Other refundable tax offsets

 
   
 

Medicare levy

 

M1

Medicare levy reduction or exemption

 

M2

Medicare levy surcharge

 
   
 

Adjustments

 

A1

Under 18 

 

A2

Part-year tax-free threshold

 

A3

Government super contributions

 

A4

Working holiday maker net income

 

A5

Amount on which family trust distribution tax has been paid

 
   

C1

Credit for interest on early tax payments

 
   
 

Income Tests

 

IT1

Total reportable fringe benefits amount

 

IT2

Reportable employer superannuation contributions

 

IT3

Tax-free government pensions or benefits

 

IT4

Target foreign income

 

IT5

Net financial investment loss

 

IT6

Net rental property loss

 

IT7

Child support you paid

 

IT8

Number of dependent children

 
   

 

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