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See Item 24 - Other income on the ATO website for further information.
You can use ATO pre-fill to use known amounts from the ATO records. See Pre-fill Manager for details on using the PLS ATO pre-fill report.
Other Income type: Select the appropriate code from the list.
Tax provides the Other income - Category 1 worksheet (oiy) at label Y. The worksheet has dissection grids behind each type of valid other income item. Press Alt+S at the first open column (label Y amount ^CZD) to open the grid.
You must dissect each income item into amounts relating to financial investment or rental income. These Orange coloured fields are mandatory for PLS lodgment.
See Other income - and Tax withheld - lump sum payments in arrears worksheet (poi).
Tax provides the Other income - Category 2 worksheet (oix) at label X listing the applicable types of income. Press Alt+S at label X to open the worksheet.
First home super saver (FHSS) scheme
If you requested a release of an amount under the FHSS scheme during 2018–19, you must include in your 2019 tax return:
- any such FHSS amount
- the tax withheld amount.
You'll have received a payment summary from the ATO showing the assessable FHSS amount and the tax withheld.
If you requested the release of an FHSS amount during 2018–19, even if you did not receive the amount until after 30 June 2019, you must still include it in your 2019 tax return.
If you use ATO-pre-fill then the amounts will be pre-populated at
Tax provides the Other income - Category 3 worksheet (oiv) at label V listing the applicable types of income. The worksheet has dissection grids behind each expense. Press [Alt+S] at the first open column (label V amount ^CZF) to open the grid. Refer to Other income - Category 3 worksheet (oiv).
In order that the ATO and MYOB Tax can calculate averaging for the year, the Taxable Professional Income (TPI) must be entered at label Z and you must complete the Averaging details in the Return properties > Estimate Tab for the taxpayer. For details of this tab refer to Div 405 Averaging.
The amount to be entered at Taxable professional income at label Z is calculated as the amount remaining after deducting from the assessable professional income the total of deductions that reasonably relate to this income.
Do NOT deduct from the amount at label Z any apportionable deductions - for example gifts to charity that have been shown at item D9 as both the ATO and Tax will perform that calculation during the preparation of the Assessment/Estimate of tax payable.
When you enter the Eligible income amount at label Z, the following dissection dialog is opened:
The amount you have entered defaults to the ‘Other income’ field. If the income is from Salary or Wages, then the relevant amount should be keyed in that field - likewise for the other types of income.
If averaging is not required this year, open Return Properties > Estimate > Division 405 Averaging and tick the checkbox ‘Averaging NOT required this year for Eligible professional income’.
CCH References
10-000 What is assessable income: overview
10-005 Checklist of taxable and non-taxable items
10-440 Prizes and awards
10-510 Royalties
10-740 Other scholarships, grants, etc.
13-775 Excess concessional contributions tax
13-777 Excess concessional contributions — assessment and charge
16-500 Election expenses
16-510 Local government election