Item 19 - Retirement savings accounts (RSAs) providers only

Only complete labels U, X, V if you are an RSA provider.

RSA providers other than life insurance companies work out the RSA component of their taxable income and apply the applicable tax rate to that component.

Click labels U or V to open generic worksheets at these labels for record keeping and dissection. See Generic Schedule / Worksheet.

Label U - No-TFN contributions income

If you are an RSA provide, label U is mandatory.

Show at label U the no-TFN contributions income of the RSA provider.

Label X - Income tax payable on No-TFN credits

We'll calculate the tax payable on label U and default it to label X.

The calculated amount at label X flows to the Calculation statement and included at label B Gross Tax.

Use the Interest on no-TFN tax offset worksheet (ito) to if you're entitled to Interest on your No-TFN tax offset. See No tax file number (TFN) contributions on the ATO website.

Label V - Net taxable income from RSAs

Show at label V the:

RSA component of the taxable income of the RSA provider that is not a life insurance company, or
amount to be included in the complying superannuation class of the taxable income of a life insurance company that is referable to RSAs provided by the company.

For information on tax rates:

See Appendix 7 of the Company instructions on the ATO website, or

Maintenance > Tax Rates > Company...

CCH References

3-515 Complying superannuation asset pools

3-530 Tax treatment of RSA business