Other income worksheet (oti)

Code: For Fund and SMSF returns the ATO has introduced a Code box to collect the type of Other income at item 10 label S in the Fund return and item 11 label S in the SMSF. The Other income worksheet (oti) provides a list of valid codes and links to the Depreciation worksheet (d) to integrate any assessable balancing adjustment on disposal of a depreciating asset. If you have other income not disclosed at Income labels A to R, then a code is mandatory at label S.

The worksheet provides a repeatable row of code, description and amount fields. To insert an additional row, press [Ctrl+Insert].

When you use the Other income worksheet (oti), Tax calculates the Code to be integrated to the return code box as that which represents the largest income amount.

For the depreciation worksheet, Assessable balancing adjustments amounts that integrate to the oti, the code is already assigned and when all the relevant Other income has been entered, the Code will be recalculated on integration to the main return.