Exempt Farm Income

[Audit1]

I am completing a form 11, for someone who has income from the lease of his farm land, which is exempt, as it qualifies due to it been a fixed lease for 10 years.

However I am unsure what section to enter it under the Form 11.

Can anyone advise what section to enter in under.

 

[mandelbrot]

You include the amount of exempt rent received, along with all other rents receivable, at Panel 204 on the 2010 Form11, and you deduct the amount of exempt rental income from leasing of farmland at Panel 206 (d).

So if the only rental income is the exempt income you'll have the same figure in both boxes, netting to Nil taxable rental income...