Individual tax return instructions supplement 2012 - Australian ...

T12 Net income from working – supplementarysectionT133Completeworksheet 3. If (s) is a loss, show it as anegative amount.Worksheet 3Net income or loss from working(p) total income from$worksheet 1(q)(k) total deductions fromworksheet 2If the amount at (q) is a loss thenadd the amounts at (q) and (r).The total amount will be a loss.If (q) is not a loss then take theamount at (r) from the amount at(q). The result may be a loss.4Write$ (r)$ (s)the amount at (s) at M item T12. If you had aloss, print L in the box at the right of M.Entrepreneurs tax offsetWere you a sole trader with anaggregated turnover of less than$75,000 or did you receive businessincome from a partnership or trustwith an aggregated turnover ofless than $75,000?No Go to question T14.Yes Read on.Answering this questionYou may be eligible to receive the Entrepreneurs taxoffset (ETO) if you are:n a sole trader and the aggregated turnover for all yoursole trader businesses is less than $75,000n a partner in a small business partnership which hadan aggregated turnover of less than $75,000n a beneficiary of a small business trust which had anaggregated turnover of less than $75,000.We will automatically calculate your ETO from theinformation you provide at this item and at other itemson your tax return.Go to ato.gov.au/instructions2012 and readquestion T13 if you need more information todetermine your eligibility and to work out theamounts you show at this item.Completing your tax return1 Are you eligible for more thanone ETO?No Go to step 7.Yes Read on.s40 INDIVIDUAL TAX RETURN INSTRUCTIONS SUPPLEMENT 2012