Item A3 - Government super contributions
Click this link to open the information on Item A3 on the ATO website.
There is no requirement to enter Sole trader and professional business income or salary or wages income at the A3 labels. Both the ATO and MYOB can calculate that income from labels in the return.
These labels at A3 are to advise those things that the ATO can't define due to there being no specific labels on the return and no way for the ATO to define what is solely earned and what might be shared income and expenses.
Use the Superannuation super contribution worksheets (scc) at these labels to assist in the calculation of all income; investment, partnership and other sources income earned either solely or jointly with another person.
Separate worksheets are available for solely earned income and jointly earned investment income.
Once you have completed these labels you can use the Super Co-contributions What-if calculator worksheet to estimate the amount your client might expect from the Government by way of a Government contribution.
Click on the labels for more information.
"Other sources" at this label does not include Sole trader and professional business income or, Salary or wages income.
Income from investment, partnership and other sources refers to all investment income (interest and dividends, capital gains and other business income and deductions other than income earned as a Sole Trader) earned solely or jointly with another person.
Where income and expenses are shared with another person or persons, only those transactions with each person that result in a profit are included for these purposes. If you have more than one person with whom you share income, losses are not offset against gains to arrive at a net position. Each such pairing must be entered separately.
There are several worksheets and each must be completed in order that the separate amounts for each of the three labels can be calculated.
Complete the labels in the worksheet and the relevant values will be calculated and integrated to label F. Where there is business income and deductions amounts will also be integrated to labels G and H.
CCH References
13-760 Government co-contributions