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Distributions from partnerships worksheet (dfp)

Fund and SMSF returns only

This worksheet has the Tax code dfp and can be opened at any of the relevant labels in the respective return by clicking [Alt+S] or clicking the Schedule Icon or it can be selected from Preparation > Schedule > Distributions from Partnerships and Trusts (dfp). Due to the different requirements for non-deductible expenses to be reported in the SMSF, there are slightly different views for each of the fund returns (EF and MS).

National Rental Affordability (NRAS) Tax Offset

In the event a Fund receives a distribution of the National Rental Affordability Tax Offset from a partnership, this worksheet now provides a column to receive that amount. The tax offset amount integrates to the holding dialog at Label E3 in the Calculation Statement of the Fund and the SMSF returns.

Share of Primary Production income

This worksheet has no column for share of Primary Production income. If a Partnership does distribute Primary Production income to a Fund or SMSF, that Share of income will be added to any Non-Primary Production income and reported jointly at the Share of Income field.

Deductions field

Additionally, a grid has been provided at the Deductions field and the total deductions amount will integrate from the Distributions from partnerships worksheet (dfp) to the Other deductions worksheet (otd) at:

  • Item 11 label L in the Fund, and

  • Item 12 label L1 and L2 in the SMSF.

Share of credits

Any Share of credits will be integrated to the relevant Calculation Statement credit field holding dialogs and then integrated to the label in the return.

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