| Supplementary Tax offsets The supplementary Tax Offsets on the Tax Offsets tab are:
Item T3 Label A-Superannuation contributions on behalf of spouse Item T4 Label R-Zone or Overseas Forces Tax Offsets Item T5 Label X-Total net medical expenses for disability aids, attendant care or aged care Item T6 Label B-Invalid and invalid carer Item T7 Label T-Landcare and Water Facility Item T8 Label K-Early stage venture capital limited partnership Item T9 Label L-Early stage investor Item T10 Label C-Other non-refundable tax offsets Item T11 Label P-Other refundable tax offsets Back to Tax Offset items in Form EI Item T3 Label A-Superannuation contributions on behalf of spouseDid you make contributions to a complying superannuation fund or a retirement savings account (RSA) on behalf of your ‘non-working’ or ‘low income-earning’ spouse - married or de facto? The Superannuation contributions on behalf of Spouse offset is calculated in and integrates from the Spouse Superannuation Contribution Offset Worksheet. This offset is subject to the increased income test. Click this link to open the information on Item T3 label A on the ATO website. Offset: This field is calculated by Tax in accordance with the formula. Printing the details of the offsetThe calculation worksheet is not available to print separately to the return. When you print the return, the details of the offset will be contained under Tax Offsets and Medicare which keeps all tax offsets and Medicare Surcharge details together. To print this: Select Reports > Print Return to open the Print Form dialog. Include in your selections at least ‘1’ copy of the ‘Tax Worksheets:’ attached to the return. Alternatively, if you are printing the return using Reports > Print Schedule in the Form or Schedule field click [F10] to open the list of schedules active for the return and click Select All.
Using either method Tax Offsets and Medicare will be included. Back to Tax Offset items in Form EI CCH References 13-770 Tax Offset - contributions for spouse Item T4 Label R-Zone or Overseas Forces Tax OffsetsClick this link to open the information on Item T4 label R on the ATO website. Use the worksheet provided in the Zone or Overseas Forces Offset worksheet (shz) to calculate the correct offset and integrate to the return. The base amount of this offset is subject to the ATI income test. Related Topics Back to Tax Offset items in Form EI CCH References 15-160 Rebate for residents of isolated areas 15-160 Meaning of resident of zone area 15-160 Amount of zone rebate 15-180 Overseas defence forces rebate Item T5 Label X-Total net medical expenses for disability aids, attendant care or aged care<iframe width="560" height="315" src="https://www.youtube.com/embed/rnDaLlDwJkA" frameborder="0" allowfullscreen></iframe> The Medical Expenses are recorded in the Dissection Grid at label X. Note that this offset (NMETO) is an off-return offset and will be calculated by both the ATO and MYOB Tax and included in the Notice of Assessment (NoA) and the Taxation and Detailed Estimates provided in MYOB Tax. Click this link to open the information on Item T5 label X on the ATO website. Back to Tax Offset items in Form EI CCH References 15-320 Payments for medical expenses 15-325 Eligible medical expenses Item T6 Label B-Invalid and invalid carerThis is known by the acronym DICTO and is subject to the Adjusted Taxable Income (ATI) test. Click this link to open the information on Item T6 label B on the ATO website. Use the Invalid and Invalid Carer Offset Details worksheet ‘shz’ to record the details: Press [Alt+S] to open the worksheet. Select the Invalid and carer button. Complete the eligibility screen to open the fields to edit.
INSERTIMAGE Back to Tax Offset items in Form EI CCH References 15-000 What is a personal tax offset? 15-100 Dependant (Invalid and Carer) Tax Offset Item T7 Label T-Landcare and Water FacilityClick this link to open the information on Item T7 label T on the ATO website. The Landcare and water facility carried forward offset amount calculated in the worksheet Landcare and water facility tax offset (lcr) integrates to item label T. Where the taxpayer is a small business entity with exempt income, any Landcare offset b/f must be reduced by that exempt income at the corporate tax rate of 27.5%. Back to Tax Offset items in Form EI CCH References 18-080 Water facilities Item T8 Label K-Early stage venture capital limited partnershipClick this link for full information on Item T8 label K on the ATO website. Did you contribute to an early stage venture capital limited partnership (ESVCLP) which became unconditionally registered on or after 7 December 2015? If you are a limited partner of an ESVCLP, the amount of the offset you may be able to claim is up to 10% of the lesser of the following: your total contribution to the ESVCLP during the income year (certain exclusions apply), and your share (based on your interest in the entire capital of the ESVCLP at the end of the income year) of the sum of eligible venture capital investments made by the ESVCLP during the income year and within two months after the end of the income year.
Work out the amount of the tax offset you are entitled to by referring to ESVCLP tax incentives and concessions on the ATO website. If you are an investor through a partnership or a trust which is itself a limited partner of an ESVCLP, the partnership or the trust will provide you with details of your entitlement to the offset arising from the partnership’s or trust’s investment. This tax offset is non-refundable and can be carried forward if it is not utilised fully in the current income year. Use the Early stage venture capital limited partnership worksheet (esv) to record details and to maintain and carry forward any excess offset. CCH References 20-700 Outline of innovation incentives Item T9 Label L-Early stage investorClick this link for full information on Item T9 label L on the ATO website. You may be entitled able to claim this offset if you invested in an eligible qualifying Early stage innovation company during the 2016-17 income year. To qualify for this tax offset there are requirements that need to be satisfied by: You may also be entitled to an amount of the tax offset if you are a beneficiary of a trust, or a partner in a partnership, that has invested in an eligible early stage innovation company in the 2016-17 income year. The trustee of the trust, or the partnership should provide you with details of your entitlement to the offset arising from those investments. If you have not been advised of your share of the offset, contact your trustee or partnership. CCH References 20-700 Outline of innovation incentives Item T10 Label C-Other non-refundable tax offsetsClick this link for full information on Item T10 label C on the ATO website. Other non-refundable tax offsets are calculated in and integrate from the oos worksheet. Refer to Other non-refundable tax offsets dialog . Select the relevant buttons in the dialog to enter amounts for: Back to Tax Offset items in Form EI Item T11 Label P-Other refundable tax offsetsClick this link to open the information on Item T11 label P on the ATO website. Other refundable tax offsets are calculated in and integrate from this dialog. Select the relevant buttons to enter amounts for: This schedule can be pre-filled. For more information about pre-filling a tax return, see Pre-fill Manager. | UI Text Box |
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| Tax Pre-fill is dependant on available ATO data. Validate the Tax return by pressing [F3] before lodgment. |
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