Message-ID: <1544773774.7393.1711717717541.JavaMail.tomcat@ip-10-129-228-235> Subject: Exported From Confluence MIME-Version: 1.0 Content-Type: multipart/related; boundary="----=_Part_7392_146223538.1711717717540" ------=_Part_7392_146223538.1711717717540 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable Content-Location: file:///C:/exported.html Dividend Deductions (ddd)

Dividend Deductions (ddd)

The ATO requires that expenses incurred in earning Interest and Dividend= s income be declared separately at items D7 and D8. However, where the sum of the Interest deductions at D7 and Dividend deductions at D8 is $= 5,000 or more, then an Interest and Dividend Schedule BJ must be completed = and lodged with the return.

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If you are require= d to complete and lodge the Interest and Dividend Schedule (BJ), you will need to turn off any integration that you have selected fro= m the Motor Vehicle expenses worksheet (mve) or Depreciati= on expenses from the depreciation worksheet (d) as well as= any entries as the ATO will only permit the amount that is in the BJ to be= included at either or both of D7 and D8.

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Do not show losses you have made on financial arra= ngements that are subject to tax under the new Taxation of Financial Arrang= ements (TOFA) rules at this item. These are shown at item D15 = on your tax return.

If you have elected to have the TOFA rules apply to your affairs, before= you complete your return and this question you must refer to Completin= g the tax return for individuals where the TOFA rules apply avail= able on the ATO website, www.ato.gov.au/tofa

You must also complete this item if you had a listed investment company = (LIC) capital gain amount in your dividends.

Your expenses may include:

  • management fees, and fees for investment advice relating to changes = in the mix of your investments

  • interest charged on money borrowed to purchase shares or similar inv= estments

  • costs relating to managing your investments, such as travel and buyi= ng specialist investment journals or subscriptions.

Show any expenses incurred in earning trust and partnership distribution= s at X and Y item 13 on your tax return (supplementary section).

Do not show expenses incurred in earning foreign source= dividends at this item. They are taken into account at item 20 or D15.

For Dividend Deductions, provide a description and amount for each trans= action or add one pre-calculated entry. To add extra entries, click [Ctrl+Insert]. The amounts entered are totalled and returned at i= tem D8 of the individual return only.

Integration Points

Integration is provided for:

  • Deductions from the motor vehicles schedule (mve)

  • Deductions from Depreciation worksheet

  • Deductions from Schedule BJ (ATO Interest and divid= end deduction schedule). Dividend deductions from the BJ are integrated to = D8.

 
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