Did the SMSF earn income from renting, leasing or hiring of land, buildings or other assets?
No |
Leave B blank. Go to Section C: Deductions and non-deductible expenses (item 12). |
Yes |
Read on. |
Write at B the total income that the SMSF earned from renting, leasing and hiring of land, buildings and other assets. The amount at B should not be reduced by any loss or outgoing related to the income.
If you include an amount at B that is exempt current pension income, include it also at Y Exempt current pension income.
Do not include at B rental, leasing or hiring income that is:
- derived from foreign sources (write it at D1 Gross foreign income)
- part of a distribution from a partnership (write it at I Gross distribution from partnerships)
- included in a share of net income from a trust (write it at M Gross trust distributions)
- non-arm's-length income of a complying SMSF (write it at U3 Net other non-arm's-length income).
Start of example
Example: Rent, leasing or hiring income
In 2017–18, SMSF B rented a house (at arm's length) to a tenant. The tenant paid a total of $15,000 in rent.
SMSF B reports $15,000 at B Gross rent and other leasing and hiring income.
End of example