Individual tax return instructions supplement 2012 - Australian ...

16 Deferred ‘non‐commercial’ business losses3Write4Check5Write6Check7Add8Addat F item 16 your total net losses (frombusiness activities that you carried on in partnershipwith others) that are to be deferred.that you included the amount that you wroteat F item 16 in your calculation when you workedout your net distribution at item 13 and 20.Otherwise, you will have overstated yourtaxable income.at G item 16 your total net losses (from yourbusiness activities as a sole trader) that are tobe deferred.that you included the amount that you wroteat G item 16 in your calculation when you workedout your net income or loss at item 14, 15 and 20.Otherwise, you will have overstated yourtaxable income.up the amounts of primary productiondeferred losses at F and G item 16. Write the totalof primary production deferred losses at I item 16.up the amounts of non-primary productiondeferred losses at F and G item 16. Write the totalof non-primary production deferred losses at Jitem 16.17Net farm managementdeposits or repaymentsDid you make farm managementdeposits (FMDs) or receiverepayments from your FMD Schemeaccount during 2011–12?No Go to question 18.Yes Read on.The law about FMDs has changed.Before you complete this item you must:n have your account statement from your FMD providern read Information for primary producers 2012(NAT 1712)n read Farm management deposits scheme (NAT 8776).You must go to ato.gov.au/instructions2012and read question 17 to complete this question.Completing your tax return1Add2Add3Add4Add5Addup the deductible deposits you made.Write the total at D item 17.up early repayments that qualify for theexceptional circumstances exemption.Write the total at C.up early repayments that qualify for the naturaldisaster exemption.Write the total at N.up FMDs you withdrew which you had held for12 months or more.Write the total at R.up the amounts you showed at C, N and R,and take away the amount you showed at D.Write the answer at E. If the amount is negative,print L in the LOSS box at E.s10 INDIVIDUAL TAX RETURN INSTRUCTIONS SUPPLEMENT 2012