Other transactions

What to include

At O to R2, show transactions for the member in 2020–21 that were not contributions included at questions A to M:

• O Allocated earnings or losses
• P Inward rollovers and transfers
• Q Outward rollovers and transfers
• R1 Lump sum payments
• R2 Income stream payments

O Allocated earnings or losses

If you could not include an amount of a transaction at the contribution questions A to M, and cannot include it at P Inward rollovers and transfers, Q Outward rollovers and transfers, R1 Lump sum payments, or R2 Income stream payments, include it at O Allocated earnings or losses.

Did the SMSF allocate any earnings, losses, taxes or expenses to the member?

Write at O the sum of:

• all earnings allocated to this member

less

• expenses (including taxes) and losses allocated to this member.

If the amount at O is a loss, print L in the box to the right of the amount.

Include at O any transactions affecting the member’s closing balance that you have not included at another question in section F or section G. For example, the amount at O could include:

• investment earnings allocated to the member's account
• expenses allocated to the member's account
• gains and losses allocated to the member's account
• payments received for the member under an insurance policy held by the SMSF for death or disability cover
• allocations from reserves that are not included at either K Transfer from reserve: assessable amount or L Transfer from reserve: non-assessable amount. For more information, see Transfers from reserves that are not included at K or L.

Continue to: P Inward rollovers and transfers