Tax Return Completion and Declaration

This document presents a solved example of an Australian individual tax return. It demonstrates how to calculate income from business, apply deductions like deferred non-commercial losses, and arrive at the net income or loss. The document also includes the taxpayer's declaration and a section for the registered tax agent's declaration, highlighting the legal aspects of tax filing in Australia.

Page 1 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
Income
1 Salary or wages
Your main salary and wage occupation
Managing director Occupation code X 22222
2
Payer Allowances Lump A Lump B
Tax
With
held
Gross
Dennis Evans ABN: 84 121 121 224 RFBA:1188
RESC:10000
38 130
Total tax withheld Add up the boxes. $ 38
11 Dividends Unfranked amount S 17,
000
Franked amount T 4,230
Tax file number amounts V 0 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 400 171.43
MYR 385.96 165.41
TLS 155 66.43
Only used by taxpayers
completing the supplementary
section
LOSS
Transfer the amount from TOTAL
SUPPLEMENT INCOME OR LOSS -1,38,119 / L
LOSS
TOTAL INCOME OR LOSS
Add up the income amounts
and deduct any loss amount
in the boxes.
-1,14,946 / L
Deductions
D1 Work related car
expenses A 9,533 CLAI
M B
/
D3
Work related uniform,
occupation specific or
protective
C 450 /
CLAI
M 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
Sensitive (when completed)

Page 2 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
Insurance policy 1,500
D7 Interest deductions I 15,00
0
Interest on loan 15,000
D8 Dividend deductions H 1,40,
000
Fully Franked Dividend 1,40,000
D9 Gifts or donations J 3,200
Greenpeace trust 1,000
Australian Kidney
Foundation 1,000
Sea Shepherd 1,200
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
##
##
##
#
LOSS
SUBTOTAL TOTAL INCOME OR LOSS less
TOTAL
DEDUCT
IONS
-
2,9
8,2
99
/ L
Subtract amounts at F and Z item
L1 LOSS
TAXABLE INCOME OR LOSS from amount at SUBTOTAL $
-
2,98,
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 1,2
00
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 E Print Y for yes
Sensitive (when completed)

Page 3 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
June 2017, were you and all your
dependants
(including your spouse) - if you had any
- covered by private patient HOSPITAL
cover?
or N for no.
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 Members
hip C 142536
insurer ID number
Your premiums eligible for J 1,260
Your
Australia
n
Governm
ent
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 10,00
0
IT3 Tax-free government
pensions U 0
IT4 Target foreign income V 0
IT5 Net financial investment
loss X 1,16,
957
Net dividends - Items 11, D8 1,16,957 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
Sensitive (when completed)

Page 4 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
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) 1,16,957 L
IT6 Net rental property loss Y 29,26
9
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
(For ATO validation only)
Adjusted taxable income 1,68,226 /
Estimated total income 1,63,573 /
Estimated eligible income 1,40,130
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 Jensen
First given name Jelena Other given names
Day Month Year
Your spouse's K 01-01-2016
date of birth
Your spouse's gender Male Female X Indet
ermi
nate
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
full year, write the dates you had a to
spouse between 1 July 2016 and N
Sensitive (when completed)

Page 5 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
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 64,00
0
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
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)
Sensitive (when completed)

Page 6 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
15 Net income or loss from
business
Primary production -
transferred LOSS
B 1,08,850 / 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
Tax withheld where Australian W 0
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 Print Y 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 Print
Y
for
yes
Tra
nsf
ero
r
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 Print Y for
yes
assets located outside Australia which
had or N for 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
Sensitive (when completed)

Page 7 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
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
-
1,38,
119
/ L
any loss amounts in the boxes
INCOME OR LOSS
Transfer this amount to on page 3
D12
Personal
superannuation
contributions
H 12,00
0
Fund name / TFN / ABN Account no
Sun Superannuation ABN:84
111 122 223 70086511 12000
TOTAL SUPPLEMENT
DEDUCTIONS
Items D11 to D15
—
add
up
the
boxes and
transfer
this
amount to
12
,0
00
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
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
Sensitive (when completed)

Page 8 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
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
Gross payments where Australian C 1,30,000 D
1,3
0,0
00
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 1,30,000 / /
1,3
0,0
00
/
Expenses Opening stock K
Purchases and other costs 9,950 L 9,950
TYPE
Closing stock M /
Cost of sales 9,950 / / 9,9
50 /
(K + L - M)
Foreign resident withholding U
expenses (excluding capital gains)
Contractor, sub-contractor F
and commission expenses
Superannuation expenses 10,000 G 10,00
0
Bad debts I
Lease expenses J
Rent expenses 16,000 K 16,00
0
Interest expenses 15,000 Q 15,00
0
within Australia
Interest expenses overseas R
Depreciation expenses 1,52,740 M 1,52,
740
Sensitive (when completed)

Page 9 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
TYPE
Motor vehicle expenses 34,660 S N 34,
660 / S
Repairs and maintenance 500 O 500
All other expenses P
Total
expens
es
S 2,38,850 T 2,38,
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 /
Expense reconciliation adjustments / / H /
Net
income
or loss
B 1,08,850 / L C / 1,08,8
50 / L
from
busines
s this
year
Deferred non-commercial D E
business losses from
a prior year
Net
income
or loss
Y 1,08,850 / L Z / 1,08,8
50 / 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
Sensitive (when completed)

Page 10 of 10 Individual Tax Return 2017 Mr Dennis Evans TFN: 881 156
217
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.
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 DALE0001
Agent’s telephone number
Contact name Area code Telephone number Agent’s reference number
00012000
Sensitive (when completed)