This section covers the Assets and Liabilities of the SMSF and should balance. The asset value to be used is that shown in the SMSF's Balance Sheet (also known as the SMSF's Statement of Financial Position) as at 30 June of the income year.
- Item 15 - Asset values
- Item 16 - On the Assets/Liabilities/TOFA
Total Australian and overseas Assets, label U is automatically calculated by Tax and is the result of labels A to T.
Liability values are entered at item 15 (labels V to Y).
Total liabilities label Z is automatically calculated by Tax and is the result of labels V to Y.