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A guide to completing your tax return

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					                    A guide to completing your tax return
                    A guide to completing your tax return for the BT Lifetime
                    – Flexible Pension, BT Classic Lifetime – Flexible Pension,
                    and BT Complying Income Plan




                    This guide aims to help you complete sections of your 2008–2009 tax return
                    which relate to your investment in the BT Lifetime – Flexible Pension,
                    BT Classic Lifetime – Flexible Pension and BT Complying Income Plan (referred
                    to in this guide as ‘the Plan’). It is important you complete your tax return
                    correctly to ensure you make the most of the tax benefits which your
                    investment offers.
                    You will be required to include information about your investment in your tax
                    return if at any time between 1 July 2008 and 30 June 2009 you:
                >   had a non-superannuation BT Complying Income Plan; or
                >   if you had investment in the Plan sourced from superannuation, and
                >   were under the age of 60 and received any income payments from the Plan; or
                >   turned 60 and received any income payments from the Plan; or
                >   first invested in the Plan; or
                >   made a full or partial withdrawal from your investment.
                    The enclosed PAYG Payment Summary and BT Schedule of Additional
                    Information (if you have a non-superannuation BT Complying Income Plan)
                    provide the information you need to include in the TaxPack 2009.
                    If you are completing your own tax return, you will need a copy of TaxPack
                    2009 issued by the Australian Taxation Office (ATO).
                    You may be eligible to use the ‘short tax return for individuals 2009’ which has
                    been specifically designed for those with simple tax affairs. You can obtain this
                    tax return form and instructions (which include eligibility criteria) from the ATO
                    by calling 13 28 61 or visiting www.ato.gov.au .
                    If you do not meet the eligibility criteria for the ‘short tax return for individuals
                    2009’, you will need to use the TaxPack 2009 when completing your return.




www.bt.com.au
                                      If you have investments in any of our other products you will shortly receive
                                      additional information to help you complete your tax return.
                                      Although we are happy to give you information about your investment,
                                      please note we are unable to give tax advice. If you require further information
                                      about your personal tax position we suggest you consult your accountant
                                      or tax adviser.

How to complete your tax return       The following is a guide to the specific sections you need to follow depending
                                      on your personal circumstances.

Step 1                                TaxPack 2009 — question 7 of the tax return
                                      Total Tax Withheld shown on your PAYG Payment Summary should be entered
                                      in the box to the right of ‘Australian annuities and superannuation income
                                      streams’. The taxed element of the Taxable Component shown on your PAYG
                                      Payment Summary should be entered in the box to the right of the letter ‘J’.

Step 2                                TaxPack 2009 — question 7 of the tax return
                                      The assessable amount of payments from non-superannuation annuities (ie a
                                      non-superannuation BT Complying Income Plan) will need to be included in the
                                      ‘untaxed element’ of your 2008/09 tax return. To calculate the assessable
                                      amount of your payments, subtract the deductible amount1 of the UPP of your
                                      annuity from the gross amount of the annuity shown on your PAYG Payment
                                      Summary. The final assessable amount of your income should be entered in
                                      the box to the right of the letter ‘N’.

Step 3                                If you are aged 55 or more, you may qualify for a Tax Offset, if you purchased
                                      your pension or annuity with superannuation monies.
                                      TaxPack 2009 — question T4 of the tax return

Calculating your Tax Offset           The instructions to calculate the Tax Offset appear in the TaxPack 2009.
                                      Insert in the box to the right of the letter ‘S’, the Tax Offset amount shown on
                                      your PAYG Payment Summary or as you have calculated.
                                      Note: You may be entitled to a Senior Australians Tax Offset. Read question T2
                                      in the TaxPack 2009 to find out more about this Tax Offset.




                                      What to do next
                                  >   See your adviser
                                  >   Visit www.bt.com.au
                                  >   Call 132 135.


                                  1_The deductible amount can be found on
                                    the enclosed BT Schedule of Additional
                                    Information (if you have a non superannuation
                                    BT Complying Income Plan).

                                      BT7105-0509go

				
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Description: A guide to completing your tax return