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W Gross income

Instructions on calculating gross income.

Last updated 6 August 2024

Add the amounts from A to U, including D and R.

Do not include the following because they make up D, R and U:

  • D1 Gross foreign income
  • R1 Assessable employer contributions
  • R2 Assessable personal contributions
  • R3 No-TFN-quoted contributions
  • R6 Transfer of liability to life insurance company or PST
  • U1 Net non-arm's length private company dividends
  • U2 Net non-arm's length trust distributions
  • U3 Net other non-arm's length income.

Write the total at W. If the SMSF has no gross income, write 0 at W. If the amount at W is a loss, print L in the Loss box at the right of the amount.

Continue to: Y Exempt current pension income

QC62610