In IT5 label X, the loss you show is the amount by which the deductions relating to the taxpayer's financial investments exceed the income from those investments.
Labels integrating into IT5
The amount calculated integrates to label X only if it is a loss. If there is no amount integrating, enter zero at the label X.
Income
Item | Label |
|---|---|
Item 11 | Label S: Unfranked dividends. Label T: Franked dividends. Label U: Franking credit. |
Item 13 | Label O: Distribution from partnerships (Share of Label O relating to net financial income/loss). Label U: Managed investment scheme income from trusts. Label C: Franked distributions from trusts. |
Item 15 | Label C: Non-PP financial investement income/loss. |
Item 16 | Label G: Share of deferred losses from partnership business of investing. Label F: Deferred losses from sole trader business of investing. |
Item 20 | Label M: Foreign company dividends including managed investments. Label F: Australian franking credits from an NZ franking company. |
Item 23 | label A: Forestry managed investment schedule. |
Item 24 | Label Y: Category 1 balancing adjustment related to financial investment. Label V: Category 2 Other income related to financial investment. |
Deductions
Item D6 | Label K: The low-value pool deduction relating to financial investments. |
Item D8 | Label H: Dividends deductions. |
Item 13 | Label Y: Partnership deductions relating to financial investments/Managed investment deductions from trust distributions. |
Item D14 | Label F: Forestry managed investment scheme deduction. |
Item 20 | Label M: Dividends deductions from foreign shares. |
Item D15 | label J: Any other deductions attributable to financial investment including debt deductions. |