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ATO TAX DOCUMENTATION FOR INDIVIDUALS

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Added on  2020-02-17

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K 1,080 Allowances from Item 11,080 3 Employer lump sum payments Amount A in lump sum payments box R / 5% of amount B in lump sum payments box H 4 Employment termination payments (ETP) Taxable component CODE Date of payment 30/11/2015 24,000.00 I Spouse 21,000 / R Payer's ABN27 222 266 667 8 Australian superannuation lump sum payments TYPE 3,000.00 Date of payment 30/06/2016 Taxable component Taxed fringe benefits Q5 75,000 CLAIM Spouse V1

ATO TAX DOCUMENTATION FOR INDIVIDUALS

   Added on 2020-02-17

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TAX DOCUMENTATION FORINDIVIDUALS1
ATO TAX DOCUMENTATION FOR INDIVIDUALS_1
Table of ContentsA) Tax liability of John....................................................................................................................3B (i) Give advice to John re his tax obligation, signature obtaining, substantiation and response to the ATO’s future enquires..........................................................................................................13(ii) Conduct research on any new development in legislation, case laws, ATO rulings or taxation regulations relating to John, and evaluate how it may be applied to his tax return.......................132
ATO TAX DOCUMENTATION FOR INDIVIDUALS_2
A) Tax liability of JohnIncome1Salary or wagesYour main salary and wage occupationWelderOccupation codeX322313PayerAllowancesLump ALump BTax WithheldGrossABN:1,08024,000.0097,0002Allowances, earnings, tips, director’s fees etc.K1,080Allowances from Item 11,0803Employer lump sum paymentsAmount A in lumpsum payments boxTYPER/5% of amount B inlump sum payments boxH4Employment termination payments (ETP)Taxable componentCODEDate of payment30/11/201524,000.00I21,000/ RPayer's ABN27 222 266 6678Australian superannuation lump sum paymentsTYPE3,000.00Date of payment30/06/2016Taxable componentTaxed elementQ75,000Payer's ABN27 222 266 667Untaxed elementP50,000Total tax withheldAdd up theboxes.$51,000.0011DividendsUnfranked amountS840Franked amountT4,060Tax file number amountsV0.00Franking creditU1,740withheld from dividendsCompanyUnfrankedFrankedImp CredTFN AmtFortesque2,800.001,200.00Coltes840.001,260.00540.00Only used by taxpayers completing the supplementary sectionLOSSTransfer the amount from TOTAL SUPPLEMENT INCOME OR LOSS(61,123)/ LLOSSTOTAL INCOME OR LOSSAdd up the income amounts and deduct any loss amount in the boxes.189,597/DeductionsD1Work related car expensesA11,396CLAIM B/Motor vehicle11,396BD5Other work related expensesE2,3593
ATO TAX DOCUMENTATION FOR INDIVIDUALS_3
Three tools1,259Safety boots400Union fees700D6Low value pool deductionK598,062InvestmentsRentalOtherProperty560,00038,062D9Gifts or donationsJ156Smith family150Red Nose6D10Cost of managing tax affairsM2,250Tax agent650Income protection insurance1,600TOTAL DEDUCTIONSItemsD1toadd up theboxes614,223LOSSSUBTOTALTOTAL INCOME OR LOSSlessTOTAL DEDUCTIONS(424,626)/ LSubtract amounts atFandZitem L1LOSSTAXABLE INCOME OR LOSSfrom amount at SUBTOTAL$(424,626)/ LTax offsetsT1Seniors and pensioners (includes self-funded retirees)TAX OFFSETVETERANIf you had a spouse during 2015-16 you must also complete Spouse details - marriedNDYXor de facto.CODECODETOTAL TAX OFFSETSItems T2 and—add up the boxesU0Medicare levy related itemsReduction based on family incomeNumber of dependent children and studentsY2M1Medicare levy reduction or exemptionCLAIMExemption categoriesIf you complete this item and you had a spouseFull 2.0% levy exemption - number of daysV/during 2015-16 you must also complete SpouseTYPEdetails—married or de facto.Half 2.0% levy exemption - number of daysWM2Medicare levy surcharge (MLS)THIS ITEM IS COMPULSORYIf you do not complete this item you may be charged the full Medicare levy surcharge.For the whole period 1 July 2015 to 30 June 2016, were you and all your dependantsEPrintY for yes(including your spouse) - if you had any - covered by private patient HOSPITAL cover?orN for no.Number of days NOTAliable for surchargeIncome testsYou must complete this section.If you had a spouse during 2015-16 you must also complete Spouse details – married or de facto on page 7.If the amount is zero, write 0.IT1Total reportable fringe benefits amountW0IT2Reportable employer superannuation contributionsT0IT3Tax-free government pensionsU7,800IT4Target foreign incomeV04
ATO TAX DOCUMENTATION FOR INDIVIDUALS_4

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