• HELP Loans:
  • Student Financial Supplement Scheme repayments
  • Student Start-up loan repayments
  • ABSTUDY Student Start-up loan repayments
• an individual's Super co-contributions
• Medicare levy surcharge.

The DHS uses income tests to work out the eligibility of Family Tax Benefits (FTB) Parts A or B.

MYOB uses income tests to calculate your client's tax liability when using the F4 estimate.

If you don't act for one of the partners, their share of income or loss will still be distributed and you'll need to print that partner's xP and ensure that it gets to the partner concerned.

We'll pre-fill required amounts you've entered elsewhere in the return.

If we can't calculate an amount for any field and it applies, you're required to complete it. 

Deductions

Allowable deductions you can claim for an investment include, but are not limited to, expenses you pay to:

• borrow money to purchase an investment

• manage your investments

• obtain advice about your investments.

You must only include the expenses attributable to the financial investments. If all of your financial investment expenses exceed the gross income from those investments, you have a loss. If your income from financial investments is greater than your expenses attributable to financial investments, you don't have a loss.

You don't include interest from savings accounts or capital gains/losses when calculating net financial investment income or loss.