Note: For Business Entity (non-agent), you may check this guide
The video provides the following guide about the basic of Partneship Tax Return -
- Working with imported accounting information
- Handling Dividends
- Handling Interest
- Making changes to classifications
- Handling Franking Accounts
- Dealing with Reconciliation
- To learn more about how to fill this tax return, please review the detailed ATO instruction set - Partnership Tax Return Instructions 2020
See attached spreadsheet example for Partnership Comparatives.
Note: If you have no accounting software, you can use our excel template and import it directly to Lodgeit.
Related article:
How to create "Financial Reports" for a Partnership
How to Use Tags in accounts with other expense categories in a partnership
How to Use Tags in accounts with other Income categories in a partnership
Checkout some of our Help guide on:
Form Workflow Sequence and E-signature
Understanding the Reconciliation Section - Partnership Tax Return
Reconciliation Guides:
Trust Income Earned by a Partnership
Partnership Income earned by a Partnership
Interest Earned by a Partnership
Capital Gains Earned by a Partnership
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 adding a form.
Select Forms
Click the form that you need.
Select Year.
"Lodgement Date" is automatic date from ATO, but you can also manage to change it if necessary.
Click "Skip this Step" or "Continue"
Activate the relevant sections that you need to work on -
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)