The ATO calculator is available to work out the Adjustable Taxable Income (ATI) for your taxpayer:
The calculation includes items such as:
Taxable Income or Loss
IT1 Label W Total Reportable fringe benefits amount
IT2 Label T Reportable employer superannuation contributions
IT3 Label U Tax-free government pensions
IT4 Label V Target foreign income
IT5 Label X Net financial investment loss
IT6 Label Y Net rental property loss
D12 Label H Personal Superannuation contributions
IT7 Label Z Child support you paid
The ATI calculation for deceased taxpayers differs slightly.
Note:
ATI is rounded down to the nearest dollar.
The taxable income excludes assessable First Home Super Saver (FHSS) released amount.
The adjusted fringe benefits total, which is the sum of:
reportable fringe benefits amounts received multiplied by 0.53 and
reportable fringe benefits amounts from employers not exempt from fringe benefits tax.