Individual tax return instructions supplement 2012 - Australian ...

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D12Personal superannuationcontributionsDid you make personalsuperannuation contributions to acomplying superannuation fund or aretirement savings account (RSA)?No Go to question D13.Yes You may be able to claim a deduction.Read on.Answering this questionYou may claim a deduction for personal contributionsyou made to your complying superannuation fund orRSA if:n you gave them a valid notice to tell them how muchyou intend to claim as a deductionn your fund or RSA acknowledged your noticen either of the following applied to you– you were fully self-employed and not workingunder a contract principally for your labour– the salary, wages and other remuneration, whichyou received in return for your personal labouror skills, make up less than 10% of the sumof the following:– your reportable employer superannuationcontributions (shown at item IT2)– your total reportable fringe benefits amounts(shown at item IT1)– your assessable income.Your assessable income is the amount you wrote at Totalincome or loss on page 3 of your tax return unless:n you had a distribution from a partnership or trust,income or losses from rent or business (includingpersonal services income), capital gains or capitallosses or foreign source incomen you claimed a deductible amount for a foreign pensionor annuity at item D11 on your tax return, orn you have a deductible farm management depositamount at item 17 label D.In any of these cases, phone 13 10 20 for help to workout your assessable income.s24 INDIVIDUAL TAX RETURN INSTRUCTIONS SUPPLEMENT 2012Generally, you cannot claim a deduction for personalsuperannuation contributions if:n you made the contributions after you turned75 years oldn you were under 18 years old on 30 June 2012 and youwere not carrying on a business and did not receiveremuneration for your personal labour or skills, orn you were under 55 years old and the contributionwas attributable to a capital gain to which the smallbusiness retirement exemption applied.Go to ato.gov.au/instructions2012 and readquestion D12 for more information, including:n whether you qualify to claim a deductionn splitting your contributionsn the meaning of ‘personal labour or skills’n contribution caps and co-contributionn completing an additional information scheduleif you received– a parental leave payment which you showedat item 1– a payment under an income protection,sickness or accident insurance policy whichyou showed at item 1.Are you eligible to claim a deductionfor personal superannuationcontributions?No Go to question D13.Yes Read on.Completing your tax returnIf you contributed to more than one fund or RSA,you will need to provide additional information. Go toato.gov.au/instructions2012 and read question D12for instructions on how to complete this item.1Add2Printup all your eligible contributions for 2011–12and write the amount at H item D12. The deductionyou claim can reduce your taxable income to nil,but it cannot add to or create a loss.in the boxes at item D12:n the full name of your fund or RSAn either its Australian business number (ABN) or itstax file number (TFN)n your account number with the fund or RSA.
D13Deduction forproject poolDid you have capital expendituredirectly connected with a project?You may be able to claim a deduction for capitalexpenditure allocated to a project pool for aproject you:n operated in 2011–12 for a taxable purposen carried on, or proposed to carry on, for a taxablepurpose which was abandoned, sold or otherwisedisposed of in 2011–12, before or after it startedto operate.Examples of this capital expenditure include:n site preparation for depreciating assets (other thanin draining swamp or low-lying land or for clearingland for horticultural plants)n feasibility studies or environmental assessmentsfor the project.No Go to question D14.Yes Read on.Answering this questionYou must go to ato.gov.au/instructions2012to complete this question and for moreinformation.Completing your tax return1Go2Writeto ato.gov.au/instructions2012 and completeworksheet 1 in question D13.your project pool deduction amount at Ditem D13.D14Forestry managedinvestment schemedeductionDid you make payments to aforestry managed investmentscheme (FMIS)?No Go to question D15.Yes You may be able to claim a deduction.Read on.You can claim a deduction at this item only if the forestrymanager has advised you that the FMIS satisfies the70% direct forestry expenditure rule.You must go to ato.gov.au/instructions2012to complete this question.Completing your tax return1To2When3Ifwork out the total amount of your deductiblepayments, go to ato.gov.au/instructions2012and read question D14.you have worked out the total amountof your deductible payments, write that amountat F item D14.your interests in an FMIS are covered by aproduct ruling, then at item D14:n print the code PR at Un write the year of the product ruling at Vn write the product ruling number at W(do not include the year of the product rulingor the slash).Otherwise, if your interests in an FMIS are coveredby private rulings, at item D14:n print the code AN at Un leave the year of the private ruling V blankn write the authorisation number printed on thefront page of your notice of private ruling at W.INDIVIDUAL TAX RETURN INSTRUCTIONS SUPPLEMENT 2012 s25
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 and 22: 21 RentCompleting your tax return1Y
Page 23 and 24: 24Other incomeDid you receive any o
Page 25: 24 Other income4Add5Addup your cate
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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