Financial Performance 1 Expense Asset Revaluations Unrealised Losses Amount The amount (if any) of any unrealised loss made on the revaluation of assets and liabilities to fair value that may arise as a result of the adoption of Australian equivalents to the international financial reporting standards. Inform the relevant field with the amount of unrealised losses on revaluation of assets to fair value. Adjustments for tax purposes are made at Reconciliation to taxable income or loss - An unrealised loss that is not deductible is added back at Non-deductible expenses - Any net capital gain for taxation purposes is included at Net capital gain - Any net capital loss is included with any unapplied capital losses carried forward to later income years and is written at Net capital losses carried forward to later income years. Expense Capital Expenditure Immediate Deduction Amount The total amount of capital expenditure (other than on depreciating assets) claimed as an immediate deduction by a Company in the mining, petroleum and quarrying industries for exploration and prospecting, rehabilitation of mining or quarrying sites, and payment of petroleum resource rent tax. Inform the relevant field with the amount of immediate deduction for capital expenditure. Companies in the mining, petroleum and quarrying industries should write at this label the total amount of capital expenditure (other than on depreciating assets) claimed as an immediate deduction for exploration and prospecting, rehabilitation of mining or quarrying sites, and payment of petroleum resource rent tax. For more information about these deductions, see the Tax Office publication Guide to depreciating assets. Expense Capital Expenditure Specified Allowable Deduction Amount The total of the company's deductions allowable under section 40-880. Section 40-880 provides a five-year write-off for certain business-related capital expenditure provided that no other provision either takes the expenditure into account or denies a deduction. Expense Capital Works Deduction Amount The amount of deduction claimed for capital expenditure on special buildings, which includes eligible capital expenditure on extensions, alterations or improvements that are used to produce assessable income. Inform the relevant field with the amount of capital works deductions. The deduction claimed for capital expenditure on qualifying buildings and structural improvements, including eligible capital expenditure on extensions, alterations or improvements to either of these. Exclude capital expenditure for mining infrastructure buildings and timber milling buildings. Different deduction rates apply (2.5% or 4%) depending on the date on which construction began, the type of capital works and the manner of use. The Company can claim a deduction under Division 43 for an income year only if it owns, leases or holds part of a construction expenditure area of capital works (?your area?), incurred the construction expenditure or is an assignee of the lessee or holder who incurred the expense, and uses ?your area? to produce assessable income or in some cases for carrying on R&D activities. A lessee or holder can claim a deduction in respect of an area leased or held under a quasi-ownership right. The Company can deduct an amount for capital works in an income year if the capital works have a ?construction expenditure area?, there is a ?pool of construction expenditure? for that area, and the company uses the area in the income year to produce assessable income or carry on research and development activities. No deduction until construction is complete. The deduction cannot exceed the undeducted construction expenditure for your area. Expense Deductible Other Amount Other deductible expenses amounts not discriminated elsewhere. Inform the relevant field with the amount of other deductible expenses. The amount of expense-related adjustments that are subtracted from 'Total profit or loss' to reconcile with 'Taxable income or loss'. Do not include the following items again here: - Section 46FA deductions for flow-on dividends, - Deduction for decline in value of depreciating assets, - Forestry managed investment scheme deduction, - Immediate deduction for capital expenditure, - Deduction for project pool, - Capital works deductions, - Section 40-880 deduction, - Australian owned R&D tax concession ? not including label M, - Foreign owned R&D tax concession ? not including label K, - Australian owned R&D ? extra incremental 50% deduction, - Foreign owned R&D ? extra incremental 75% deduction, - Landcare operations and deduction for decline in value of water facility, - Deduction for environmental protection expenses, and - Offshore banking unit adjustment. If the company is a life insurance company, include at this label the deduction it is entitled to if it receives a dividend from a Listed Investment Company (LIC), which includes a LIC capital gain amount. For more information, see Life insurance companies and friendly societies only in the Guide on the ATO website. Other companies are not entitled to this deduction. Also include at this label deductible forex losses to the extent that they have not been included in calculation of total profit or loss or in any other label reconciliation to taxable income or loss. See Foreign exchange gains and losses in the Guide on the ATO website for more information on the forex measures. Expense Depreciation Allowable Deduction Amount The deduction for decline in value for an income year of depreciating assets held by the Company over a reporting period. Inform the relevant field with the amount of deduction for decline in value of most depreciating assets. If the Company is not a small business entity using the simplified depreciation rules, write the deduction for decline in value of most depreciating assets held by the Company in the income year. If the Company has allocated depreciating assets to a low-value pool, include the deduction for decline in value of those assets. This label does not include the deduction for decline in value of R&D depreciating assets subject to the R&D tax concession, or the decline in value of water facilities. For more information, see the Tax Office publication Capital allowances schedule instructions. Expense Environmental Protection Deduction Amount The amount of allowable expenditure on environmental protection activities. Inform the relevant field with the amount of section 40-880 deduction. The total of the Company?s deductions allowable for eligible business related capital expenditure it incurred that is not otherwise deductible or taken into account, and for which a deduction is not denied by some other provision. Taxpayer's are provided a five-year write-off for certain business related capital expenditure incurred in relation to a past, present or proposed business. The deduction applies to business-related capital expenditure incurred after 30 June 2005. Generally, the expenditure is only deductible to the extent the business is, was or is proposed to be carried on for a taxable purpose. A deduction cannot be claimed for capital expenditure to the extent that it: - can be deducted under another provision of the income tax laws - forms part of the cost of a depreciating asset the Company holds, used to hold or will hold - forms part of the cost of land - relates to a lease or other legal or equitable right - would be taken into account in working out an assessable profit or deductible loss - could be taken into account in working out a capital gain or a capital loss from a CGT event - would be specifically not deductible under the income tax laws if the expenditure was not capital expenditure - is specifically not deductible under the income tax laws for a reason other than that the expenditure is capital expenditure - is of a private or domestic nature - is incurred in relation to gaining or producing exempt income or non-assessable non-exempt income - is excluded from the cost or cost base of an asset because, under special rules in the UCA or capital gains tax regimes respectively, the cost or cost base of the asset was taken to be the market value, or - is a return of or on capital (for example, distributions by trustees) or a return of a non-assessable amount (for example, repayments of loan principal). The Company deducts 20% of the qualifying capital expenditure in the year it is incurred and in each of the following four years. Expense First Home Saver Account Fees And Charges Amount The total amount of fees and charges paid from?FHSAs. FHSA providers only (other than life insurance companies) are to complete. Do not include the 15% tax liability as a fee or charge. Expense Flow On Dividend Deduction Amount Any amounts claimed as a deduction during the income year that are deductible under the section 46FA Income Tax Assessment Act 1936. This deduction is allowable in certain cases where a non-portfolio dividend that is not fully franked is on-paid by a resident company to its non-resident parent. Expense Foreign Resident Withholding Amount All expenses directly relating to income that are subject to foreign resident withholding. Inform the relevant field with the amount of foreign resident withholding expenses. Include all expenses directly relating to gaining income subject to foreign resident withholding (informed in Income, Gross payments subject to foreign resident withholding, Gross distribution from partnerships or Gross distribution from trusts). Any expenses included in this field that directly relate to gaining income that is not taxable in Australia should also be informed as a Non-deductible exempt income expenditure. Expense Forestry Managed Investment Scheme Deduction Amount The total amount of deductible payments made to a Forestry Managed Investment Scheme. Valid if the company holds or held a financial interest in a FMIS for the financial year and the company paid an amount to a forestry manager of an FMIS under a formal agreement. Inform the relevant field with the amount of forestry managed investment scheme deduction. The company is an initial participant in an FMIS if: - it obtained its forestry interest in the FMIS from the forestry manager of the scheme, and - its payment to obtain the forestry interest in an FMIS results in the establishment of trees. The company is a subsequent participant if it is not an initial participant. The forestry manager of an FMIS is the entity that manages, arranges or promotes the FMIS. A forestry interest in an FMIS is a right to benefits as advised you that the FMIS satisfies the 70% direct forestry expenditure rule in Division 394 of the ITAA 1997. If the company is an initial participant, it cannot claim a deduction if it disposed of the forestry interest in an FMIS within four years after the end of the income year in which a payment was first made. If the company is a subsequent participant, it cannot claim a deduction for the amount paid for acquiring the interest. The company can only claim a deduction for ongoing payments. Initial participants can claim at this item initial and ongoing payments made under an FMIS that were made as an initial participant of the FMIS. Subsequent participants can claim at this item ongoing payments made under an FMIS that were made as a subsequent participant of the FMIS. Excluded payments The company cannot claim a deduction at this item for any of the following payments: Payments for borrowing money ?- interest and payments in the nature of interest (such as a premium on repayment or redemption of a security, or a discount of a bill or bond) - payments of stamp duty ?- payments of GST ?- payments that relate to transportation and handling of felled trees after the earliest of: ? the sale of the trees ? the arrival of the trees at the mill door ? the arrival of the trees at the port ? the arrival of the trees at the place of processing (other than where processing happens in-field) ?- payments that relate to processing ?- payments that relate to stockpiling (other than in-field stockpiling). Expense Hedging Losses Amount The total revenue losses from relevant hedging financial arrangements Inform the field with total revenue losses from relevant hedging financial arrangements, which hedges an underlying item which is an asset subject to capital allowances (this means the gains or losses will be revenue in character and may be recognised over the life of the hedged item). Hedging tax timing election: Taxpayers may make a hedging tax timing election. This method allows gains and losses from certain hedging financial arrangements to be characterised and taxed in accordance with the tax treatment of the underlying item that is being hedged. This is of particular note in the present circumstances, where a hedging financial arrangement is entered into to hedge an underlying item which is an asset subject to capital allowances. For a hedging financial arrangement that hedges an underlying item which is an asset subject to capital allowances ? a gain or loss will be revenue in character and may be recognised over the life of the hedged item. Expense Non Deductible Exempt Income Amount The amount of any expenditure incurred in deriving income that is exempt from Australian tax. Do not include expenditure incurred in deriving exempt income from RSAs and expenditure allowed by section 25?90 of the Income Tax Assessment Act 1997. Expense Non Deductible Amount The amount of expense-related adjustments that are added back to the amount written at 'Total profit or loss' to reconcile with the amount written at 'Taxable income or loss'. Inform the relevant field with the expense related adjustments that are added back to the amount shown at Total profit or loss - to reconcile with the amount shown at Taxable income or loss. The amount shown at Non deductible expenses excludes: - any amount shown at Non deductible exempt income expenditure, and - any amount shown at Accounting expenditure in item 6 subject to R&D tax concession. Generally, Non deductible expenses shows the amounts that are an expense for accounting purposes but are not deductible for income tax purposes, including timing variations. Examples are: - debt deductions disallowed under the thin capitalisation rules - unrealised losses on revaluation of assets and liabilities to fair value under IFRS - expenses incurred in deriving non-assessable non-exempt income such as foreign income that is non-assessable non-exempt income under - a non-share dividend, to the extent that it is an expense for accounting purposes and therefore taken into account in determining total profit and loss, but which is not deductible for income tax purposes. Expense Other Payments Amount Expenses not classified elsewhere. Inform the field of the expenditure from all other dealings or transactions not specifically included at other labels including any transactions between international related parties involving derivative instruments and any financial transactions other than loans. A derivative instrument is a contractual right that derives its value from the value of something else, such as a debt security, equity, commodity, or a specific index. The most common derivative instruments are forwards, futures, options and notional principal contracts such as swaps, caps, floors, collars and credit derivatives. Unlike traditional debt and equity securities, these instruments do not involve a return on an initial investment. For many derivative instruments such as notional principal contracts (for example, interest rate swaps), only net cash outgoings should be recorded. Do not record any gross cash flows or any notional principal amounts associated with such transactions. If only one party to the derivative instrument transaction has made a payment, record the gross amount here if it is an outgoing. A financial transaction other than a loan is any other form of financial transaction that is not a derivative instrument or an amount to be recorded elsewhere in interest, discounts, insurance, interest-bearing and interest-free loans and that is of a revenue (non-capital) nature, should be recorded at this item. For example, payments in respect of guarantee arrangements, lease arrangements, repurchase agreements, securities lending arrangements, etc. Expense Project Pool Allowable Deduction Amount The total amount of the company's deductions for project pools. Expense Retirement Savings Accounts Deduction Total Amount The amount of the total deductions claimed against all income relating to gross income of Retirement Savings Accounts (RSA)s. The amount of total deductions from RSAs is to be included in this label. Expense Service Technical And Construction Amount Gross purchases or expenditure relating to technical and construction services. Inform the relevant field with the amount of the gross purchases or expenditure relating to technical and construction services between international related parties. An inclusive definition of ?services? is provided at section 136AA(1) of the Income Tax Assessment Act 1936, see the ATO website. Expense Services Research And Development Amount Gross purchases or expenditure relating to research and development services. Inform the relevant field with the amount of the gross purchases or expenditure relating to research and development services between international related parties. An inclusive definition of ?services? is provided at section 136AA(1) of the Income Tax Assessment Act 1936, see the ATO website. Expense Sevices Management Financial Administrative Marking Training Amount Gross purchases or expenditure relating to management, financial, administrative, marketing and training services. Inform the relevant field with the amount of the gross purchases or expenditure relating to management, financial, administrative, marketing and training services between international related parties. An inclusive definition of ?services? is described in section 136AA(1) of the Income Tax Assessment Act 1936. Income Assessable Other Amount Other assessable income amounts not reported elsewhere. Inform the relevant field with the total of the amounts that form part of assessable income if you have not included them as income at Net capital gain, Franking credits or Australian franking credits from a New Zealand company. The following items are shown here: - The excess of the company?s foreign source income and attributed foreign income for taxation purposes over income from such sources shown in the accounts. Gross up foreign source income by the amount of foreign tax paid. Include any add-back or subtraction adjustment to expenses claimed against such income separately at Non-deductible expenses or at Other deductible expense. - Assessable foreign exchange gains to the extent that they have not been included at Calculation of total profit or loss, or at any other label of Reconciliation to taxable income or loss. See Foreign exchange gains and losses on the ATO website for more information. - Assessable balancing adjustment amounts for non-R&D assets. (Assessable balancing adjustment amounts for assets used in R&D activities subject to the R&D tax concession are taken into account at L Australian owned R&D tax concession ? not including Australian owned R&D ? extra incremental 50% deduction.) Note: Assessable balancing adjustment amounts for assets used in foreign-owned R&D activities are not subject to the R&D tax concession and should not be included in Accounting expenditure in 'Calculation of total profit t or loss' subject to R&D tax concession, Australian owned R&D tax concession ? not including 'Australian owned R&D ? extra incremental 50% deduction', or Foreign owned R&D tax concession ? not including 'Foreign owned R&D ? extra incremental 75% deduction'. If the company ceases to hold or to use a depreciating asset, a balancing adjustment event occurs. For assets subject to the small business entity depreciation rules, see the ATO website Step 5 of Disposal of depreciating assets. For assets not subject to the small business entity depreciation rules, calculate a balancing adjustment amount to include in the company?s assessable income or to claim as a deduction. If the asset was used for both taxable and non-taxable purposes, reduce the balancing adjustment amount by the amount attributable to the non-taxable use. A capital gain or capital loss amount may arise attributable to that non-taxable use. For more information, see the ATO website Guide to depreciating assets. - The company?s share of a deduction in respect of a ?listed investment company (LIC) capital gain? amount if it receives a distribution from a partnership or trust that claimed a deduction in respect of a LIC capital gain amount ? see section 115-280 of the Income Tax Assessment Act 1997. There is an exception for life insurance companies. For more information, see the ATO website for Company Instructions in the section on Life insurance companies and friendly societies only. - Excessive deductions for capital allowances that are to be included in assessable income under the limited recourse debt rules - Amounts assessable under Division 45 of the Income Tax Assessment Act 1997. Broadly, if a taxpayer holds plant which has been used principally for leasing and some part of the lease period occurred on or after 22 February 1999, Division 45 and related amendments may apply from that date to include an amount in the assessable income of the taxpayer upon disposal of such plant, or an interest in the plant, or an interest in, or rights under, a lease of the plant. Income Asset Revaluations Unrealised Gains Amount The amount of any unrealised gains made on the revaluation of assets and liabilities to fair value that may arise as a result of the adoption of Australian equivalents to the international financial reporting standards. Inform the relevant field with the amount of unrealised gains on revaluation of assets to fair value. An unrealised gain that is not assessable income is included at Other income not included in assessable income. Income Controlled Foreign Companies And Controlled Foreign Trusts Attributable Income Amount The total amount of attributable income of controlled foreign companies that is assessable under Section 456 (controlled foreign companies attributable income) of the ITAA 1936 for listed, section 404 and unlisted countries. Inform the relevant field of the total amount of attributable income of controlled foreign companies (CFC) and controlled foreign trusts (CFT) that is assessable under Section 456 (CFCs attributable income) of the ITAA 1936. Leave the element blank if it does not apply. Income Controlled Foreign Companies and Controlled Foreign Trusts Interposed Australian Entities Attributable Income Total Amount The total amount of attributable income of controlled foreign companies and controlled foreign trusts that is assessable under Section 459A (interposed Australian entities) of the ITAA 1936. Inform the relevant field of the total amount of attributable income of controlled foreign companies (CFC) and controlled foreign trusts (CFT) that is assessable under Section 459A (interposed Australian entities) of the ITAA 1936. Leave the element blank if it does not apply. Income Controlled Foreign Companies and Controlled Foreign Trusts Where Change Of Residence Occurred Attributable Income Total Amount The total amount of attributable income of controlled foreign companies that is assessable under Section 457 controlled foreign companies change of residence of the ITAA 1936. Inform the relevant field of the total amount of attributable income of controlled foreign companies (CFC) and controlled foreign trusts (CFT) that is assessable under Section 457 (CFCs change of residence) of the ITAA 1936. Leave the element blank if it does not apply. Income Currency Translation Rate A currency translation rate used by an entity to convert amounts of income or asset values to Australian dollars in order to fulfill its reporting obligations to Australian government agencies. An entity may keep its accounts solely or predominantly in a foreign currency, which it then needs to convert to Australian currency to fulfill its reporting obligations in Australia. Income Depreciating Assets Assessble Income From Balancing Adjustment Events Total Amount The total assessable income a taxpayer has from balancing adjustment events occurring for their depreciating assets. Inform the relevant field with the total assessable income from balancing adjustment events occurring for depreciating assets (this type of assessable income may arise if, for example, a depreciating asset was disposed of for more than its adjustable value). Do not include information about assets allocated to a low-value pool or assets that are deductible under the specific primary production provisions of the Uniform Capital Allowances regime. If there are no assessable balancing adjustment amounts this income year, leave the relevant field blank. Income Exempt Amount Income that is exempt from Australian tax - refer Income Tax Assessment Act 1997 sections 11-5, 11-10 and 11-15. Do not include at this field income exempt under an RSA. Write exempt income from RSAs at 'Exempt income from RSAs'. Income Financial Arrangements Unrealised Gains Amount Inform the field to the extent TOFA gains from unrealised movements in the value of financial arrangements is recognised in the elements at "Income from financial arrangements (TOFA)" and "Expenses from financial arrangements (TOFA)". Under accounting standards the change in the fair value of financial arrangements may be booked to profit or loss. Where a business enity has made one or more tax timing method elections which result in the recognition of such amounts under the TOFA rules Income First Home Saver Account Credited Net Amount The net amount of "Amounts credited to FHSAs" MINUS "Fees and charges applied to FHSAs". FHSA providers only (other than life insurance companies) are to complete. This is the FHSA component of?taxable income where the FHSA provider is an ADI. Income First Home Saver Account Credited Amount The total earnings or other return credited to FHSAs for the year. FHSA providers only (other than life insurance companies) are to complete Income Foreign Branch Profits Of Australian Companies Non Assessable Non Exempt Income Amount The amount of foreign income that is non-assessable non-exempt income under section 23AH of the ITAA 1936 (foreign branch profits of Australian companies). Inform the relevant field of the amount of foreign income that is non-assessable non-exempt income ? foreign branch profits of Australian companies under Section 23AH of the Income Tax Assessment Act 1936 for listed countries. Non-assessable non-exempt income is a category of income now recognised by the income tax law. Non-assessable non-exempt income is not taken into account in working out a taxpayer?s taxable income for an income year. Also, it is not taken into account in working out a taxpayer?s tax loss for an income year or in working out how much of a prior year tax loss is deductible in an income year. Leave the element blank if it does not apply. Income Forestry Managed Investment Scheme Amount Total amount of the income from each Forestry Managed Investment Scheme (FMIS) activities in which the company holds a forestry interest. Inform the relevant field with the amount of forestry managed investment scheme income. Determine if the business entity is a initial or subsequent participant and Inform the sum of thinning receipts, Sale and harvest receipts ? forestry interest no longer held and Sale and harvest receipts ? forestry interest still held. Income Hedging Gains Amount The total revenue gains from relevant hedging financial arrangements Inform the field with the total revenue gains from relevant hedging financial arrangements, which hedges an underlying item which is an asset subject to capital allowances (this means the gains or losses will be revenue in character and may be recognised over the life of the hedged item). Hedging tax timing election: Taxpayers may make a hedging tax timing election. This method allows gains and losses from certain hedging financial arrangements to be characterised and taxed in accordance with the tax treatment of the underlying item that is being hedged. This is of particular note in the present circumstances, where a hedging financial arrangement is entered into to hedge an underlying item which is an asset subject to capital allowances. For a hedging financial arrangement that hedges an underlying item which is an asset subject to capital allowances ? a gain or loss will be revenue in character and may be recognised over the life of the hedged item. Income Net Amount The amount of the entity?s net income or its share of net income. Net income is the revenues of a company minus all expenses incurred in generating those revenues. Inform the relevant field with the amount of net entity income. The net business income is the entity?s turnover less the allowable deductions attributable to that turnover. The deductions attributable to the business entity turnover are the allowable deductions that the entity can claim against its assessable income which specifically relate to that turnover. Income Non Portfolio Dividend From Foreign Country Non Assessable Non Exempt Income Amount The amount of foreign income that is non-assessable non-exempt income under section 23AJ of the ITAA 1936 (non-portfolio dividend from foreign countries). Inform the relevant field of the amount of foreign income that is non-assessable non-exempt income ? non-portfolio dividend from foreign countries under Section 23AJ of the Income Tax Assessment Act 1936 for listed countries. Non-assessable non-exempt income is a category of income now recognised by the income tax law. Non-assessable non-exempt income is not taken into account in working out a taxpayer?s taxable income for an income year. Also, it is not taken into account in working out a taxpayer?s tax loss for an income year or in working out how much of a prior year tax loss is deductible in an income year. Leave the element blank if it does not apply. Income Not included In Assessable Other Amount Other income amounts not discriminated elsewhere, which are not included in the assessable income. The calculated amount of income-related adjustments that have to be subtracted from 'Total profit or loss' to reconcile with 'Taxable income or loss'. Inform the relevant field with the amount of other income not included in assessable income. The income-related adjustments that have to be subtracted from Total profit or loss to reconcile with Taxable income or loss. Do not include again amounts included at 'Section 46FA deductions for flow-on dividends' to 'Exempt income' here. Generally the amounts that are included at this field are income for accounting purposes but not assessable for income tax purposes. Include the following items at this label: ? any excess of gross foreign source income, shown in the income labels, over the amount that represents assessable income. In calculating the excess, include dividends and other amounts that are not assessable because of sections 23AH, 23AI, 23AJ, 23AK and 99B(2A) of the Income Tax Assessment Act 1936. Note that you must attach a Schedule 25A for the year if the company received dividends or other amounts covered by any of these provisions ? any part of an unfranked distribution that is not assessable due to section 802-15 or 802-20 of the Income Tax Assessment Act 1997 (these provisions are relevant to conduit foreign income) ? other amounts of non-assessable non-exempt income (do not include demerger dividends or other amounts not shown at calculation of total profit or loss). ? profits on disposal of assets used in R&D activities which are subject to the R&D tax concession included at ?Other gross income? calculation of total profit or loss. ? Australian and foreign source capital gains for accounting purposes that have been included at ?Unrealised gains on revaluation of assets to fair value? or ?Other gross income? in calculation of total profit or loss. For Australian taxation purposes, include any net capital gain at ?Net capital gain? in reconciliation to taxable income or loss ? any excess of a forex gain for accounting purposes, included at calculation of total profit or loss, over the assessable forex gain. See ?Foreign exchange gains and losses? on the guide on the ATO website for more information on the forex measures. Income Other Gross Amount Other income gross amounts not discriminated elsewhere. Any amount of extraordinary revenue ? that is, revenue or gain from events outside the ordinary operations of the company and not of a recurring nature. Inform the relevant field with the amount of other gross income. The amount of other gross income may include royalties, insurance recoveries, bad debt recoveries, life insurance premiums, subsidies and assessable non-government assistance from all sources and profit on sale of depreciating assets (including assets used for Research & Development (R&D) purposes). Income Other Payments Amount Income is defined as increases in economic benefits during the accounting period in the form of inflows or enhancements of assets, or decreases in liabilities that result in increases in equity other than those relating to contributions from equity participants. Other income refers to income which is not derived from the direct operating activities of the business. Inform the field of the revenue from all other dealings or transactions not specifically included at other labels including any transactions between international related parties involving derivative instruments and any financial transactions other than loans. A derivative instrument is a contractual right that derives its value from the value of something else, such as a debt security, equity, commodity, or a specific index. The most common derivative instruments are forwards, futures, options and notional principal contracts such as swaps, caps, floors, collars and credit derivatives. Unlike traditional debt and equity securities, these instruments do not involve a return on an initial investment. For many derivative instruments such as notional principal contracts (for example, interest rate swaps), only net cash outgoings should be recorded. Do not record any gross cash flows or any notional principal amounts associated with such transactions. If only one party to the derivative instrument transaction has made a payment, record the gross amount here if it is a receipt. A financial transaction other than a loan is any other form of financial transaction that is not a derivative instrument or an amount to be recorded elsewhere in interest, discounts, insurance, interest-bearing and interest-free loans and that is of a revenue (non-capital) nature, should be recorded at this item. For example, receipts in respect of guarantee arrangements, lease arrangements, repurchase agreements, securities lending arrangements, etc. Income Paid Out Of Attributed Controlled Foreign Company Income Non Assessable Non Exempt Income Amount The amount of foreign income that is non-assessable non-exempt income under section 23AI of the ITAA 1936 (amounts paid out of attributed controlled foreign companies income). Inform the relevant field of the amount of foreign income that is non-assessable non-exempt income ? amounts paid out of attributed Controlled Foreign Company (CFC) income under Section 23AI of the Income Tax Assessment Act 1936 for listed countries. Non-assessable non-exempt income is a category of income now recognised by the income tax law. Non-assessable non-exempt income is not taken into account in working out a taxpayer?s taxable income for an income year. Also, it is not taken into account in working out a taxpayer?s tax loss for an income year or in working out how much of a prior year tax loss is deductible in an income year. Leave the element blank if it does not apply. Income Paid Out Of Attributed Foreign Investment Fund Non Assessable Non Exempt Income Amount The amount of foreign income that is non-assessable non-exempt income under section 23AK of the ITAA 1936 (amounts paid out to attributed foreign investment fund income). Inform the relevant field of the total amount of foreign income that is non-assessable non-exempt income ? amounts paid out of attributed foreign investment fund (FIF) income under Section 23AK of the Income Tax Assessment Act 1936. Non-assessable non-exempt income is a category of income now recognised by the income tax law. Non-assessable non-exempt income is not taken into account in working out a taxpayer?s taxable income for an income year. Also, it is not taken into account in working out a taxpayer?s tax loss for an income year or in working out how much of a prior year tax loss is deductible in an income year. Leave the element blank if it does not apply. Income Partnership Distribution Gross Amount Total amount of the gross distribution from all partnerships, including any share of franking credits attributable to dividends paid by an Australian company. Inform the relevant field with the amount of gross distribution from partnerships. Include any amounts subject to foreign resident withholding that were distributed to the company from a partnership. Also include the company?s share of credit from foreign resident withholding. Do not include: - distributions from a corporate limited partnership (unless that distribution is attributable to profits made before it became a corporate limited partnership). - any amount referable to Australian franking credits received indirectly from a New Zealand company through a partnership. Also include the company?s share of franking credits included in the gross distribution from the partnership at Rebates/tax offsets in the Calculation statement. If the amount is a loss it will be represented as a negative number. Income Pooled Development Funds Small To Medium Enterprises Amount The amount of the small and medium sized enterprises (SME) income component. A PDF's SME income component is its SME assessable income less deductions allowable to the PDF for the income year, whether those deductions relate to the SME assessable income or not. (Allowable deductions to a PDF are offset first against SME assessable income before being applied against unregulated investment income.) Inform the relevant field with the amount of pooled development funds income from sm/med enterprises. Small and Medium Enterprises (SME) assessable income is the sum of: - non-CGT assessable income derived from an SME investment or derived from the disposal of an SME investment at a time when the company was a PDF, and - the overall capital gain allocated to the SME assessable income class. The overall capital gain allocated to the SME assessable income class is the amount of any ordinary capital gain that would otherwise arise from a Capital Gain Tax (CGT) event at a time the company was a Pooled Development Fund (PDF) in relation to an SME investment less: - any ordinary capital loss for that class, and - any overall capital loss from another class of assessable income, and then - any prior year net capital losses. Capital gains in one class of assessable income are first reduced by capital losses in that class and then by capital losses in another class. Prior year capital losses are applied first against capital gains in the SME assessable income class. Full-year PDF For a company that is a PDF for the full income year, the SME income component is SME assessable income less deductions allowable to the PDF for the income year. Part-year PDF A company that becomes a PDF part way through the income year and is still a PDF at the end of the income year is taxed as a PDF from the day it became registered as a PDF to the end of the income year as if that period were an income year (?the PDF period?). The PDF component is the taxable income for the PDF period. (A company?s ?PDF component? is its ?adjusted taxable income?.) The SME income component of a part-year PDF is the company?s SME assessable income less any deductions allowable to the company for the income year that relate to the PDF period. Income Pooled Development Funds Unregulated Investment Amount Full-year PDFs. The unregulated investment component of a year of income of a company that is a PDF throughout the year of income is the amount remaining after deducting from the company's taxable income of the year of income the company's SME income component of the year of income. Part-year PDFs. The unregulated investment component of a year of income of a company that becomes a PDF during the year of income and is still a PDF at the end of the year of income is the amount remaining after deducting from the company's adjusted taxable income of the year of income the company's SME income component of the year of income. For this purpose, adjusted taxable income means so much of the company's taxable income of the year of income as does not exceed its PDF component of the year of income. Inform the relevant field with the amount of pooled development finds unregulated investment income. Full-year PDFs The unregulated investment component of a company that is a PDF for the full income year is worked out by deducting the company?s SME income component from its taxable income for the year. The amount (if any) remaining is the company?s unregulated investment component. Part-year PDFs The unregulated investment component of a part-year PDF is worked out by deducting the company?s SME income component for the year of income from its adjusted taxable income. Income Rent Leasing Hiring Gross Amount The total income received for the tax year from renting, leasing or hiring. Inform the relevant field with the amount of gross rent and other leasing and hiring income. The amount of these can not be claimed as a loss. Income Retirement Savings Account Assessable Contributions Amount The amount of all assessable contributions received by the Retirement Savings Account provider. The amount of assessable contributions is to be returned in this label. Income Retirement Savings Account Gross Amount The amount of the gross income of the RSA provider that is not a life insurance company, or the total amount credited to the RSAs provided by a life insurance company. This includes assessable contributions received by the RSA provider. Inform the relevant field with the amount of gross income from retirement savings accounts. RSA providers other than life insurance companies need to work out the RSA component of their income and apply the applicable rate to that component. Further information can be found on the ATO website. Income Retirement Savings Accounts Exempt Amount The amounts (other than contributions) credited to Retirement Savings Accounts paying current pensions and annuities. The amount of RSA exempt income is to be returned at this label. Income Retirement Savings Accounts Taxable Net Amount The amount of the RSA component of the taxable income of the RSA provider that is not a life insurance company, or the amount to be included in the complying superannuation/FHSA class of the taxable income of a life insurance company that is referable to RSAs provided by the company. The net taxable income from RSAs is to be returned at this label. Income Services Management Financial Administrative Marketing Training Amount Gross sales or revenue relating to management, financial, administrative, marketing and training services. Inform the relevant field with the amount of the gross sales or revenue relating to management, financial, administrative, marketing and training services between international related parties. An inclusive definition of ?services? is provided at section 136AA(1) of the Income Tax Assessment Act 1936, see the ATO website. Income Services Research And Development Amount Gross sales or revenue relating to research and development services. Inform the relevant field with the amount of gross sales or revenue relating to research and development services between international related parties. Income Services Technical And Construction Amount Gross sales or revenue relating to technical and construction services. Inform the relevant field with the amount of the gross sales or revenue relating to technical and construction services between international related parties. An inclusive definition of ?services? is provided at section 136AA(1) of the Income Tax Assessment Act 1936, see the ATO website. Income Taxable Amount The total of Australian assessable income minus total allowable deductions as per the Income Tax Assessment Act. Inform the relevant field with the amount of taxable income or loss. Enter all assessable income less deductions that equals the amount at this field ?Total profit or loss' plus or minus the reconciliation adjustments plus the amount shown at ?R&D tax offset, if chosen?. If the company has a taxable income of $1 or more, transfer the amount at ?Taxable income or loss? to ?Taxable or net income? in the calculation statement. The company?s tax loss at ?Taxable income or loss? is the excess of its total deductions (except tax losses for earlier income years) over its total assessable income and net exempt income ? see section 36-10 of the Income Tax Assessment Act 1997. If the amount is a loss, ensure it is represented as a negative number. The company?s net exempt income is calculated under section 36-20 of the Income Tax Assessment Act 1997 and is not necessarily equal to the amount written at ?Exempt income?. Check that the amount at ?Other assessable income? includes the amount of net exempt income taken into account in calculating the company?s tax loss. If the company has a tax loss at this label, print zero (0) at ?Taxable or net income? in the ?Calculation statement?. If the company has excess franking offsets that can be converted under section 36-55 of the Income Tax Assessment Act 1997 into a tax loss to be carried forward, do not include at this field the amount of that tax loss. However, that amount should be taken into account in calculating the company?s tax loss at ?Tax losses carried forward to later income years?. This means that a company may have a taxable income at ?Taxable income or loss? and a tax loss carried forward. Alternatively, if the company?s total deductions exceed total assessable income and net exempt income, it would show an amount at this field that, disregarding section 36-55, would have been its tax loss for the income year. Income Trust Distribution Gross Amount Total amount of gross distributions received from trusts, including any share of franking credits attributable to dividends paid by an Australian company as advised by the trustee. Inform the relevant field with the amount of gross distribution from trusts. Include any amounts subject to foreign resident withholding that were distributed to the company from a trust. Also include the company?s share of credit from foreign resident withholding.