Tax Return Form Completion

This assignment presents an example of a completed Australian tax return form. It demonstrates how to fill out various sections, including income, expenses, deductions, and reconciliation adjustments. The document also includes the taxpayer's declaration and tax agent's declaration, showcasing the entire process of completing a tax return.

Page 1 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Income
1 Salary or wages
Your main salary and wage occupation
Managing director Occupation code X 212121
Payer Allowances Lump A Lump B Tax Withheld Gross
Louie Turley ABN: 84 111 122 223 RFBA:1188 RESC:10000
38.00 130
Total tax withheld Add up the boxes. $ 38.00
11 Dividends Unfranked amount S 17,000
Franked amount T 4,230
Tax file number amounts V 0.00 Franking credit U 1,813
withheld from dividends
Company Unfranked Franked Imp Cred TFN Amt
BHP 17,000.00
CBA 1,990.00 852.86
COH 1,300.00 557.14
FLT 400.00 171.43
MYR 385.96 165.41
TLS 155.00 66.43
Only used by taxpayers completing the supplementary section LOSS
Transfer the amount from TOTAL SUPPLEMENT INCOME OR LOSS (138,119) / L
LOSS
Sensitive (when completed)

Page 2 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
TOTAL INCOME OR LOSS Add up the income amounts and deduct any loss amount in the boxes. (114,946) / L
Deductions
D1 Work related car expenses A 9,533 CLAIM B
/
D3 Work related uniform, occupation specific or protective C 450 / CLAIM C
clothing, laundry and dry cleaning expenses
Dry cleaning of work suits 450 C
D5 Other work related expenses E 3,170
Association Financial advisor 840
Money magazine 110
Vogue Living 120
Loan 600
Insurance policy 1,500
D7 Interest deductions I 15,000
Interest on loan 15,000
D8 Dividend deductions H 140,000
Fully Franked Dividend 140,000
D9 Gifts or donations J 3,200
Greenpeace trust 1,000
Australian Kidney Foundation 1,000
Sea Shepherd 1,200
Sensitive (when completed)

Page 3 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Only used by taxpayers completing the supplementary section
Transfer the amount from TOTAL SUPPLEMENT DEDUCTIONS 12,000
TOTAL DEDUCTIONS Items D1 to add up the boxes 183,353
LOSS
SUBTOTAL TOTAL INCOME OR LOSS less TOTAL DEDUCTIONS (298,299) / L
Subtract amounts at F and Z item L1 LOSS
TAXABLE INCOME OR LOSS from amount at SUBTOTAL $ (298,299) / L
Only used by taxpayers completing the supplementary section 1,200
Transfer the amount from TOTAL SUPPLEMENT TAX OFFSETS.
TOTAL TAX OFFSETS Items T2 and —add up the boxes U 1,200
Medicare levy related items Reduction based on family income
Number of dependent children and students Y 0
M1 Medicare levy reduction or exemption CLAIM
Exemption categories
If you complete this item and you had a spouse Full 2.0% levy exemption - number of days V /
during 2016-17 you must also complete Spouse TYPE
details—married or de facto. Half 2.0% levy exemption - number of days W
M2 Medicare levy surcharge (MLS)
THIS ITEM IS COMPULSORY
If you do not complete this item you may be charged the full Medicare levy surcharge.
For the whole period 1 July 2016 to 30 June 2017, were you and all your dependants E Print Y for yes
(including your spouse) - if you had any - covered by private patient HOSPITAL cover? or N for no.
Sensitive (when completed)

Page 4 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Number of days NOT A
liable for surcharge
Private health insurance policy details
You must read Private health insurance policy details in the tax return instructions before completing this item.
Fill all the labels below unless directed in the instructions.
Health B BUP Membership C 142536
insurer ID number
Your premiums eligible for J 1,260 Your Australian Government K 113
Australian Government rebate rebate received
CODE
Benefit code L 30 Tax claim code. Read the A
tax return instructions.
Income tests
You must complete this section.
If you had a spouse during 2016-17 you must also complete Spouse details – married or de facto on page 7.
IT1 Total reportable fringe benefits amounts If the amount is zero, write 0.
Total reportable fringe benefits amounts 1,188
(for ATO validation only)
Employers exempt from FBT under section 57A of the FBTAA 1986 N 0
Employers not exempt from FBT under section 57A of the FBTAA 1986 W 1,188
IT2 Reportable employer superannuation contributions T 10,000
IT3 Tax-free government pensions U 0
Sensitive (when completed)

Page 5 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
IT4 Target foreign income V 0
IT5 Net financial investment loss X 116,957
Net dividends - Items 11, D8 116,957 L
Net investment income or loss - Item 13 0
Income or loss from Investment Business - Item 15 0
Income from Investment Business - Item 16 0
Foreign income or loss from foreign investments - Item 20 0
Net Forestry Managed Scheme Investment - Items 23, D14 0
Investment Income - Item 24 0
Less: Low Value Pool Investment deductions - Item D6 0
Less: Investment Deductions - Item D15 0
TOTAL (transfers to Label X - LOSS amounts only) 116,957 L
IT6 Net rental property loss Y 29,269
Net rent from partnerships - Item 13 0
Net rent - Item 15 0
Net rent from partnerships/sole trader activities - Item 16 0
Total foreign rental income or loss - Items 20R, 24Y less D15J 0
Net rent - Item 21 29,269 L
Less: Deduction - Item D6 0
TOTAL (transfers to Label Y - LOSS amounts only) 29,269 L
IT7 Child support you paid Z 0
Sensitive (when completed)

Page 6 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
(For ATO validation only)
Adjusted taxable income 168,226 /
Estimated total income 163,573 /
Estimated eligible income 140,130
Non-resident foreign income
Spouse details—married or de facto Use related ref details? Y
If you had a spouse during 2016-17, you must complete Spouse details - married or de facto.
We need the information included in this section to assess your tax accurately.
If you did not have a spouse, go to page 8.
Your spouse's name
If you had more than one spouse during 2016-17 print the name of your spouse on 30 June 2017 or your last spouse.
Surname or family name
First given name Other given names
Day Month Year
Your spouse's K 10/02/2016
date of birth
Your spouse's gender Male Female X Indeterminate
Period you had a spouse - married or de facto
Did you have a spouse for the full year L X
- 1 July 2016 to 30 June 2017? No Yes
From
If you did not have a spouse for the M
Sensitive (when completed)

Page 7 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
full year, write the dates you had a to
spouse between 1 July 2016 and N
30 June 2017.
Did your spouse die during the year? No X Yes
This information relates to your spouse's income
You must complete all labels
Pre-fill using related ref return details? (Related ref for spouse details above must be answered Y)
Y Your spouse’s 2016-17 taxable income O 64,000
Your spouse’s share of trust income on which the trustee is assessed under T
section 98 and which has not been included in spouse’s taxable income
Distributions to your spouse on which family trust distribution tax has been paid and which U
your spouse would have had to show as assessable income if the tax had not been paid
Your spouse's total reportable fringe benefits amounts
Employers exempt from FBT under section 57A of the FBTAA 1986 R 1,200
Employers not exempt from FBT under section 57A of the FBTAA 1986 S
Amount of Australian Government pensions and allowances (see Q6 Australian Government
pensions and allowances in the tax return instructions) that your spouse received in 2016-17 P
(exclude exempt pension income)
Amount of exempt pension income (see Spouse details - married or de facto in the instructions) Q
that your spouse received in 2016-17. Do not include any amount paid under the
Military Rehabilitation and Compensation Act 2004
Amount of your spouse’s reportable superannuation contributions (which is the total of reportable A
Sensitive (when completed)

Page 8 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
employer superannuation contributions and deductible personal superannuation contributions)
Other specified exempt payments that your spouse received B
(see Spouse details – married or de facto in the instructions)
Your spouse’s target foreign income C
Your spouse’s total net investment loss (total of net financial D
investment loss and net rental property loss)
Child support your spouse paid E
Your spouse’s taxed element of a superannuation lump sum for which the tax rate F
is zero (see M2 Medicare levy surcharge in the tax return instructions)
Spouse’s total ATI 64,000 /
(ATO validation purpose only)
15 Net income or loss from business Primary production - transferred LOSS
B 108,850 / L
from Y item P8.
Net income or loss from carrying LOSS
/ Non-primary production - transferred C /
on a business of investing from Z item P8.
Net income or loss from carrying /
on a rental property business If you show a loss at B or C you
Other income or loss relating / must complete item P9 . must complete item P9 on page 14.
to item 15
Tax withheld - voluntary agreement D
Sensitive (when completed)

Page 9 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Tax withheld where Australian W 0.00
business number not quoted
Tax withheld - foreign resident E
withholding (excluding capital gains)
Tax withheld - labour hire F
or other specified payments
18 Capital gains Did you have a capital gains G Print Y for yes
tax event during the year? or N for no.
Have you applied an CODE
M /
exemption or rollover?
Net capital gain A
Credit for foreign resident capital gains X
withholding amounts
19 Foreign entities
Did you have either a direct or indirect interest I N PrintY for yes CFC income K
in a controlled foreign company (CFC)? or N for no.
Have you ever , either directly or indirectly, caused W N PrintY for yes Transferor B
the transfer of property—including money—or or N for no. trust income
services to a non-resident trust estate?
20 Foreign source income and foreign assets or property
During the year did you own, or have an interest in, P N PrintY for yes
Sensitive (when completed)

Page 10 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
assets located outside Australia which had or Nfor no.
a total value of AUD$50,000 or more?
21 Rent Gross rent P 400
Interest deductions Q 7,600
Capital works deductions F
LOSS
Other rental deductions U 22,069 Net rent 29,269 / L
P less (Q + F + U)
LOSS
TOTAL SUPPLEMENT Items 13 to 24 - add up the boxes for income amounts and deduct (138,119) / L
any loss amounts in the boxes
INCOME OR LOSS
Transfer this amount to on page 3
D12 Personal superannuation contributions H 12,000
Fund name / TFN / ABN Account no
Sun Superannuation ABN:84 111 122 223 70086511 12000
TOTAL SUPPLEMENT DEDUCTIONS
Items D11to D15 —add up the boxes and transfer this amount to 12,000
Tax offsets
T3 Superannuation contributions on behalf of your spouse
You must also complete Spouse details— A 1,200
married or de facto on page 7. Contributions paid
Sensitive (when completed)

Page 11 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
T8 Early stage venture capital limited partnership K
T9 Early stage investor L
TOTAL SUPPLEMENT Items T3, T4, T6, T7, T8, T9, T10 and T11 - add up the boxes 1,200
TAX OFFSETS Transfer this amount to
P2 Description of main business or professional activity
Financial Asset Investing Industry code A 62400
P3 Number of business activities B 1
P4 Status of your business —print X in one box only
Ceased business C1 Commenced business C2 X
P5 Business name of main business and Australian business number (ABN)
FinForensics Pty Ltd
84 111 122 223
ABN
P6 Business address of main business
4/285 Pacific Parade Bilinga
Bilinga QLD D 4285
Suburb State Postcode
P7 Did you sell any goods or services using the Internet? Q N Print Y for yes
or N for no.
P8 Business income and expenses
Income Primary production Non-primary production Totals
Sensitive (when completed)

Page 12 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Gross payments where Australian C 130,000 D 130,000
Business Number not quoted
Gross pmts subject to foreign resident B
withholding (excluding capital gains)
Gross payments E F
- voluntary agreement
Gross payments - labour hire N O
or other specified payments TYPE TYPE
Assessable government G / H /
industry payments
Other business income I / J / /
Total business income 130,000 / / 130,000 /
Expenses Opening stock K
Purchases and other costs 9,950 L 9,950
TYPE
Closing stock M /
Cost of sales 9,950 / / 9,950 /
(K + L - M)
Foreign resident withholding U
expenses (excluding capital gains)
Contractor, sub-contractor F
and commission expenses
Sensitive (when completed)

Page 13 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Superannuation expenses 10,000 G 10,000
Bad debts I
Lease expenses J
Rent expenses 16,000 K 16,000
Interest expenses 15,000 Q 15,000
within Australia
Interest expenses overseas R
Depreciation expenses 152,740 M 152,740
TYPE
Motor vehicle expenses 34,660 S N 34,660 / S
Repairs and maintenance 500 O 500
All other expenses P
Total expenses S 238,850 T 238,850
Add up the boxes for each column. / / /
Reconciliation items
Section 40-880 deduction A
Business deduction for project pool L
Landcare operations and business deduction W
for decline in value of water facility,
fencing asset and fodder storage asset
Income reconciliation adjustments / / X /
Sensitive (when completed)

Page 14 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Expense reconciliation adjustments / / H /
Net income or loss B 108,850 / L C / 108,850 / L
from business this year
Deferred non-commercial D E
business losses from
a prior year
Net income or loss Y 108,850 / L Z / 108,850 / L
from business Transfer the amounts at labels Y and Z to item 15 on page 9.
Taxpayer’s declaration
Read and sign the declaration after completing your tax return, including the Supplementary section, Business and
professional items section and other schedules if applicable.
I declare that:
• the information provided to my registered tax agent for the preparation of this tax return is true and correct, and
• I authorise my registered tax agent to lodge this tax return.
Taxpayer's Day Month Year
Signature Date
Important: The tax law imposes heavy penalties for giving false or misleading information.
The ATO will issue your assessment based on your tax return. However, the ATO has some time to review
your tax return, and issue an amended assessment if a review shows inaccuracies that change the assessment. The
standard review period is two years but for some taxpayers it is four years.
Privacy:
The ATO is authorised by the Taxation Administration Act 1953 to request your tax file number (TFN). We will use your TFN to identify you
in our records. It is not an offence not to provide your TFN. However if you do not provide your TFN, your assessment may be delayed.
Sensitive (when completed)

Page 15 of 15 Individual Tax Return 2017 Louie Turley TFN: 589 548 669
Taxation law authorises the ATO to collect information and to disclose it to other government agencies. For information about your privacy
go to ato.gov.au/privacy
Tax agent’s declaration
I, HANDISOFT SOFTWARE TESTER
declare that this tax return has been prepared in accordance with information supplied by the taxpayer,
that the taxpayer has given me a declaration stating that the information provided to me is true and correct
and that the taxpayer has authorised me to lodge the tax return.
Agent’s signature Date Client’s reference
Day Month Year SIRI0005
Agent’s telephone number
Contact name Area code Telephone number Agent’s reference number
00018000
Sensitive (when completed)