A3 - Super co-contribution 2012

You need to answer this question if:

• you made an eligible personal super contribution (for which you are not claiming a deduction) to a complying super fund or retirement savings account
• you were under 71 years old on 30 June 2012, and
• your taxable income for 2011-12 was less than $61,920.

Did all these apply to you?

NO	You are not entitled to a super co-contribution. Go to Income tests.
YES	Read below.

Answering this question

Did you use the tax return (supplementary section) and show any of the following?

• Deposits or repayments from the farm management deposits scheme at item 17
• Foreign entity income at item 19
• Bonuses from life insurance companies or friendly societies at item 22
• Forestry managed investment scheme income at item 23 or deductions at item D15
• Other income at item 24

YES	You need to use the Super co-contributions workbook 2012 (NAT 73495) to answer this question.
NO	Read below.

Completing your tax return

Joint income group

You were in a 'joint income group' if you owned income-producing assets with another person or persons. For example:

• you were in one joint income group if you and your parents had a joint bank account, and
• you were in another joint income group if you and your spouse co-owned rental properties.

F Income from investment, partnership and other sources

Do any of the following apply to you?

• You were in a joint income group and you have deductions for the following joint income
• • interest you showed at item 10
  • dividends you showed at item 11
  • distributions from trusts you showed at L, U or C item 13 on your tax return (supplementary section)
  • foreign source income you showed at E or F item 20 on your tax return (supplementary section)
  • rental income you showed at P item 21 on your tax return (supplementary section).
   
• You showed income from a partnership at item 13 on your tax return (supplementary section).

NO	Go to G Income from employment or business.
YES	Work through steps 1, 2 and 3.

Step 1

Complete worksheet 1.

Worksheet 1
Interest and dividend income
Amount from L item 10 on page 3 of your tax return	$	(a)
Amount from S item 11 on page 3 of your tax return	$	(b)
Amount from T item 11 on page 3 of your tax return	$	(c)
Amount from U item 11 on page 3 of your tax return	$	(d)
Trust distributions
Amount from L item 13 on page 13 of your tax return (supplementary section)	$	(e)
Amounts from U and C item 13 on page 13 of your tax return (supplementary section)	$	(f)
Foreign source income
Amount from E item 20 on page 14 of your tax return (supplementary section)	$	(g)
Amount from F item 20 on page 14 of your tax return (supplementary section)	$	(h)
Rental income
Amount from P item 21 on page 15 of your tax return (supplementary section)	$	(j)
Add all amounts above, from (a) to (j).	$	(k)

Transfer the amount at (k) to (q) in worksheet 3.

Step 2

Were you in a joint income group?

NO	Go to step 3 and write 0 at (r) in worksheet 3.
YES	Complete worksheet 2 and read example 1 to help you. You need to complete both worksheets 2 and 3 to work out what to write at F item A3.

Worksheet 2

For every joint income group you were involved in, write:

• your share of income in column (l)
• your share of deductions in column (m)
• the lesser amount from columns (l) and (m) in column (n).

If you showed partnership distributions at item 13, do not include them in worksheet 2.

Example 1

Sally is in two joint income groups, one with David and another with Dawn.

Sally and David jointly own an investment property and have a joint bank account. Sally's share of:

Sally also jointly owns a shares portfolio with Dawn. Her share of:

Sally writes $10,100 at (n) for the joint income group with David and she writes $0 at (n) for the joint income group with Dawn.

Sally adds the two amounts in column (n) and transfers the total to (r) in worksheet 3.

Worksheet 2
Joint income group	Income (l) $	Deductions (m) $	Lesser amount (n) $
Sally with David	10,100	15,000	10,100
Sally with Dawn	4,000	0	0
Add your lesser amounts.			(p)

Transfer the amount at (p) to (r) in worksheet 3.

Step 3

Work through worksheet 3 to work out what to write at F item A3.

At (t) show the total of all distributions of income from partnerships that you took into account in calculating the total amount shown at N or O item 13 on page 13 of your tax return (supplementary section). Do not include your share of any partnership loss you took into account at N or O item 13.

Worksheet 3
Amount from (k) in worksheet 1	$	(q)
Amount from (p) in worksheet 2	$	(r)
Take (r) away from (q).	$	(s)
Distributions of income (as defined above at step 3)	$	(t)
Add (s) and (t).	$	(v)

Transfer the amount at (v) to F item A3 on page 7 of your tax return. If (v) is 0, print C in the CODE box at F.

G Income from employment or business

Our systems automatically treat some amounts as employment income you earned in 2011-12 or business income. If the total of these amounts is not the same as your actual 2011-12 employment income or business income (for example, because you show an employer lump sum payment you received for employment that finished in 2010-11), you need to make an adjustment by writing an amount at G.

In answering this question, income from employment includes income you earn as a company director or under a contract wholly or principally for your labour. For more information about employment income see Super co-contributions workbook 2012 (NAT 73495).

Parental leave pay you received during 2011-12 is income from employment unless your employment ceased and you continued to receive parental leave pay. If this applies to you, include at (x) below only the amount of parental leave pay that you received after your employment ceased.

Do you show any 2011-12 employment income or business income on your tax return other than at any of the following items?

• 1, 2, 3, 4 (other than death benefits), B at item 12, IT1 or IT2 of your tax return
• P1 or P8 in your Business and professional items schedule for individuals 2012

YES	Go to step 4.
NO	Read below.

Did you receive a share of income from a partnership carrying on a business in which you were a partner? Ignore partnership losses and distributions from trusts that carry on a business.

YES	Go to step 4.
NO	Read below.

Did you have income that is not from your employment in 2011-12 or from a business you carried on, which you show at any of the following items?

• 1, 2, 3, 4 (other than death benefits), B at item 12, IT1 or IT2 of your tax return
• P1 or P8 in your Business and professional items schedule for individuals 2012

NO	Go to H Deductions from business income.
YES	Go to step 4.

Step 4

Work through worksheet 4 to work out what to write at G item A3.

At (w) show the total employment income from 2011-12 or business income that you do not show:

• at items 1, 2, 3, 4 (other than death benefits), B at item 12, IT1 or IT2, or
• as income on your Business and professional items schedule for individuals 2012.

Include at (w) your share of distributions of business income from all partnerships in which you are a partner. Do not include any partnership losses you took into account at N or O item 13.

Do not include at (w) distributions from trusts that carry on a business.

At (x) show the total income that was not from employment in 2011-12 or from business, which you show:

• at items 1, 2, 3, 4 (other than death benefits), B at item 12, IT1 or IT2, or
• as income in your Business and professional items schedule for individuals 2012.

Include at (x) income from employment that ceased before 1 July 2011.

Worksheet 4
Employment income (as defined above at step 4)	$	(w)
Income that was not from employment (as defined above at step 4)	$	(x)
Take (x) away from (w).	$	(y)

Transfer the amount at (y) to G item A3 on page x of your tax return. If the amount at (y) is negative, print L in the CODE box at G.

H Deductions from business income

Do you have business deductions other than those you included in the deduction items at item P8 in the Business and professional items schedule for individuals 2012?

NO	Write 0 at H item A3 on page 7 of your tax return and go to question IT1.
YES	Read below.

Examples of deductions that you may include at H are:

• the business portion of a distributed partnership loss included in calculating the amount at N or O at item 13 (as long as the partnership carries on a business)
• deductions at X or Y at item 13 which relate to the business income portion of a partnership distribution
• personal service income deductions at item P1 in the Business and professional item schedule for individuals 2012 which relate to carrying on your business
• deductions you show at D10 for costs involved in managing your business tax affairs as a sole trader or partnership business.

Step 5

Write the total amount of these deductions at H item A3 on page 7 of your tax return.

Where to go next go to Income tests   return to main menu Individual tax return instructions, or   go back to question A2 - Part-year tax-free threshold.