Item 14 - Label O - Other Australian income

Click this link for comprehensive information on Other Australian income on the ATO website.

Show at O the total amount of other Australian income. If the amount is a loss key a negative before the amount.

The amount and description of the income may be entered directly in the main return.

Description: Enter the description that best describes the income being disclosed. To add extra entries in the main return click [Ctrl+Ins].

Amount: This is the total amount for the income described.

Alternatively, use the Other Income schedule (oi) to dissect the amount to integrate to label O and to save keying descriptions on the face of the return. Click label O to open the worksheet. Refer to Other Australian source income worksheet (oi).

CCH References

10-000 Assessable income: Overview

10-005 Checklist of taxable and non-taxable items

10-240 Bonuses on insurance policies

10-510 Royalties

23-075 Foreign currency gains and losses