Add pools and assets directly into the tax returns.

You can seamlessly migrate existing assets if you’ve used our depreciation tool before. LodgeiT will map pools and assets to their appropriate sections on the tax return, eliminating the need for manual entry.

Supported tax returns

  • Individual Tax Returns (ITR) - from 2022 onwards
  • Company Tax Returns (CTR) – from 2022 onwards
  • Trust Tax Returns (TRT) – from 2024 onwards
  • Partnership Tax Returns (PTR) – from 2024 onwards
  • Self-Managed Super Fund Annual Returns (SMSFAR) – from 2024 onwards


TABLE OF CONTENTS

Migrating Depreciable Assets into the Tax Form


  • After the migration of the depreciation,  LodgeiT no longer imports assets from the depreciation tool. Users must now edit their depreciation directly within the tax form. Therefore, users should continue editing their assets in the tax form.
  • When running the Depreciation Migration, it's important to note that only assets purchased before the end of the 2023 financial year (FY) will be migrated. Any assets acquired after this period will not be included in the migration process. The users must manually ensure that depreciation data aligns with their tax reporting requirements. Therefore, for assets that were not migrated, users should manually add them as new assets directly in the tax form.
  • Certain assets cannot be migrated automatically. The user can do it manually by creating an asset worksheet in the particular area of the tax return. Use the asset description field to search for the asset, then select it from the search results.


Quick asset entry

Easily add new assets on a single screen for a faster, more efficient workflow.


Add Worksheet

Can be fill manually

or import from "Tools"

Generate and print the tax depreciation report

User can generate and print the tax depreciation report for assets added using the new method directly within the tax return. 

Simply go to Reports > Tax Depreciation and select a tax return.