Superannuation

Statement of taxable income

Statement purpose
This statement presents the superannuation's taxable income in the components necessary for disclosure in the Fund tax return. The taxable income or loss on this statement should match the taxable income or loss on the
Tax reconciliation
 statement.
The statement is populated entirely via links from backup statements and can be adjusted, as required, through the
Adjustment
 column.

Explanation of fields

Statement of taxable income
Each item in the
Statement of taxable income
 must be allocated an
ITR code
 for the purposes of flowing through to the disclosure items on the
Super Fund Tax Return*
. Most of the line items have a
fixed ITR code
.
The ITR code is a combination of the Form question number and label, example:
Code 8R
 corresponds to
Question 8 label R
.
Additional Items
Items in this section list the non-refundable tax offsets that will populate the
Super Fund Tax Return
 to determine the final tax payable or refundable.
note
Super Fund Return is scheduled to be made available in 2025.

Signage

The signage settings are as follows:
  • Income amounts are linked as
    positive
     amounts.
  • Expense and loss amounts are linked as
    negative
     amounts.

This article applies to:

  • Product: ONESOURCE Corporate Tax