The video provides the following guide about the basic of the Company Tax Return (using Financial import from QBO)
- Preparation of Company Tax Return
- Company Tax Return 2022 via QBO
- Company Tax Return 2022 Excel Import
- Company Tax Return 2022 via Xero
- Working with imported accounting information (via Quickbooks)
- Making changes to classifications
- Handling taxable interest
- Handling taxable dividends
- Handling taxable trust income
- Handling taxable partnership income
- Handling taxable capital gains
- Treatment of accounting vs. tax depreciation
- Treatment of superanuation payable
- Treatment of addbacks i.e. entertainment / Understanding Reconciliation
- Handling Company Tax Rates for small business entities
- To learn more about how to fill this tax return, please review the detailed ATO instruction set. Company Tax Return Instructions 2022
Checkout some of our Help guide:
Form Workflow Sequence and E-signature
How to see Lodged form/Lodgement receipt
ATO Company Tax Return Instruction Guide
Note: If you have no accounting software, you can use our excel template and import it directly to Lodgeit. Learn more
The Basics
To work with a company tax return, first ensure that all the necessary information about the company has been added to LodgeiT via "Settings" if you fail to do this, you will encounter a range of difficulties.
Then you can proceed to adding a form-
Select Form
Add Form
Select the Year to Fill. Note that we have changed the design for the form from 2017 onward. Old forms can still be used.
"Lodgement Date" is automatic date from ATO, but you can also manage to change it if necessary.
Assuming you've imported your accounts and classified them, the relevant sections of the form should be activated for use. If you need to activate other sectors for manual fill, select them and then push Complete to initiate the task of completing the form.
Once you've worked in the form, you may need to turn-on certain reporting sections. You can do so via -
Check Form status via "Dashboard" . Click here to learn more about Form Sequence
Note: LodgeiT System is an SBR System with SBR dependencies. (LodgeiT uses SBR validation & prefill functions)