2007 Basic Course Chapter
12 Question 7
Front page
Filling out the I Form
|
Item number |
Amount |
Code |
Notes and
calculations |
|
Income |
|
|
|
|
1 |
25062 64296 |
|
|
|
9 |
2375 |
|
|
|
10 |
25 |
|
|
|
11T |
6265 |
|
3150+2767+(150 x 2.32) |
|
11U |
2683 |
|
1350+1185+(150 x 0.99) |
|
12U |
12Q 40.91 134 |
|
|
|
17A |
29940 |
|
17H 62164 |
|
19E
& 19M |
19O 26.08 149 |
|
|
|
|
25062 |
|
|
|
Assessable income |
103492 |
|
|
|
Deductions |
|
|
|
|
D1 |
439 |
|
655 x 0.67 |
|
D10 |
142 |
|
115+(40 x 0.67) |
|
|
|
|
|
|
Total deductions |
581 |
|
|
|
Taxable income |
102911 |
|
Assessable income MINUS Total deductions |
|
Tax offsets |
|
|
|
|
|
|
|
|
|
Total tax offsets |
|
|
|
|
Other |
|
|
|
|
M2 |
N 0 days |
|
|
Capital gains
|
CGT EVENT |
100% GAIN / LOSS |
50% GAIN |
|
|
61,350 |
30,675 |
|
|
(234) |
|
|
TRUST DISTRIBUTION |
|
|
|
Discount |
718 |
359 |
|
Other |
96 |
- |
|
CARRY FORWARD CAPITAL LOSS |
(2050) |
|
Generally, any capital
loss should first be applied to non-discountable 100% capital gains.
(2050+234) – 96 = (2188)
(61,350+718) – 2188 = 59,880
x 50% = 29,940
17H
61,350+718+96 = 62,164
17A 29,940