Individual tax return instructions supplement 2012 - Australian ...

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22 Bonuses from life insurance companiesand friendly societiesYou must go to ato.gov.au/instructions2012and read question 22 if you:n received a bonus from a policy that startedon or after 28 August 1982 and before8 December 1983n increased the amount of your premiums bymore than 25% during the term of the policy.You will need your:n life insurance policy and bonus advicen friendly society policy and bonus advice.Completing your tax return1Writeat W item 22:n the whole bonus amount you received in2011–12 if you received it during the firsteight years of the policyn two-thirds of the bonus amount you received in2011–12 if you received it during the ninth yearof the policy, orn one-third of the bonus amount you received in2011–12 if you received it during the 10th yearof the policy.Do not include any bonus amount received after the10th year of the policy.You will get a tax offset equal to 30% of the amountyou show at this item. We will work out this taxoffset for you.23Forestry managedinvestment schemeincomeDid you receive income from aforestry managed investmentscheme (FMIS)?No Go to question 24.Yes Read on.Answering this questionYou must go to ato.gov.au/instructions2012to complete this question.Completing your tax return1Go2Writeto ato.gov.au/instructions2012 and readquestion 23 to work out the total amount of yourforestry managed investment scheme income.the amount at A item 23.s20 INDIVIDUAL TAX RETURN INSTRUCTIONS SUPPLEMENT 2012
24Other incomeDid you receive any other income?Other income includes:Category 1 incomen lump sum payments in arrears, except for thoserelating to superannuation income streamsn foreign exchange gainsn benefits or prizes from investment-related lotteriesand some game-show winningsn reimbursement or recoupment of tax-relatedexpenses or election expenses which you areclaiming as a deductionn any assessable balancing adjustment when youstop holding a depreciating asset for which youhave claimed a deduction for depreciation ordecline in value in previous yearsn a gain on the disposal or the redemption oftraditional securitiesn work-in-progress amounts that you have notincluded at item 15.Category 2 incomen jury attendance feesn royaltiesn bonus amounts distributed from friendly societyincome bondsn taxable scholarships, bursaries, grants or othereducational awardsn income from activities as a special professionaln payments made to you under an incomeprotection, sickness or accident insurance policywhere the premiums were deductible and thepayments replaced income, that you have notalready shown at item 1 or 2n interest from infrastructure borrowings if youintend to claim a tax offset at item T14n allowances or payments you received as amember of a local government council that youhave not shown at item 1 or 2n other taxable allowances or payments youreceived from Centrelink that you have not shownat item 5 or 6n an amount released by one or more ofyour superannuation funds greater than theexcess contributions tax liability stated on therelease authorityn any other amount of income not already shownon your tax return.For an explanation of some of these types ofincome, see Answering this question below.NoYesGo to ato.gov.au/instructions2012 andread question 24 if you have income notlisted here that you are unsure about.Go to Total supplement income or loss.Read on.Answering this questionLump sum payments in arrearsThese payments relate to earlier income years. Theyappear at E on your:n PAYG payment summary – individual non-business, orn PAYG payment summary – foreign employment.You need to provide additional information.You must go to ato.gov.au/instructions2012and read question 24.Jury attendance feesShow here jury attendance fees you received. Do notinclude:n attendance fees if you had to pay the fees to youremployer because you received your normal incomewhile on jury dutyn any travel and meal allowances you have alreadyshown on your tax return.Foreign exchange gainsShow here any foreign exchange gains you have notalready shown at item 15 or 20.RoyaltiesIf you were an Australian resident for tax purposes in2011–12, show here income from royalties you havenot already shown at item 15 or 20.INDIVIDUAL TAX RETURN INSTRUCTIONS SUPPLEMENT 2012 s21
Page 1 and 2: Instructions for taxpayersIndividua
Page 5: 13 Partnerships and trusts4Write5Wr
Page 8 and 9: 14 Personal services income4Transfe
Page 10 and 11: 15 Net income or loss from business
Page 12: 16 Deferred ‘non‐commercial’
Page 15 and 16: 19Foreign entitiesAre you an Austra
Page 17 and 18: 20 Foreign source income and foreig
Page 19 and 20: 20 Foreign source income and foreig
Page 21: 21 RentCompleting your tax return1Y
Page 25 and 26: 24 Other income4Add5Addup your cate
Page 27 and 28: D13Deduction forproject poolDid you
Page 29 and 30: D15 Other deductionsDebt deductions
Page 31 and 32: T7 Superannuation contribution on b
Page 33 and 34: T8 Zone or overseas forcesTable 1:
Page 35 and 36: T8 Zone or overseas forcesT9Tasmani
Page 37: T10Dependent relativeDid you mainta
Page 40: T11Landcare and waterfacilityDo you
Page 43 and 44: T13 Entrepreneurs tax offset2 Did y
Page 45 and 46: T14 Other tax offsetsA4Completing y
Page 47 and 48: More informationWEBSITEGo to ato.go

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