It's important to read the information on item 5: Reconciliation items on the ATO website.
The Reconciliation worksheet, (Schedule A) provides a comprehensive set of fields for entering income and expense reconciliation adjustment items to fill the reconciliation labels at item 5. It also provides access to the Depreciation Worksheet. See Schedule A Reconciliation and Depreciation worksheet (d).
Worksheets aren't lodged as part of the return; they're for working-paper and record-keeping purposes only.
The reconciliation adjustments reconcile operating profit or loss as shown in the profit or loss account (the accounts) with the net income or loss for purposes of the income tax return.
Work out the reconciliation adjustments:
- if the partnership has included any amounts such as:
- exempt income or
- non-deductible expenses in the accounts
- if the partnership hasn't included amounts that are:
- assessable income or
- expenditure that is deductible.
5-070 Calculation of partnership net income or loss
7-050 Small business entities
11-350 CGT event K7 - Balancing adjustments for depreciating assets