Recent Q & A

Q&A: Jobkeeper
Question: Im completing CTR. Need to declare Jobkeeper payments at item Q Assesable government industry payments but cannot find how to link to that item fr...
Thu, 10 Sep, 2020 at 10:31 AM
Australian resident and Non resident
Currently the only default option is Yes (Australian resident). But this value can be rolled over from previous year return. This means reports for the ne...
Tue, 10 Jan, 2023 at 7:11 AM
"Taxable income" and "Amount payable"
Taxable Income is the total income which are taxable based on what is in the Profit & Loss tab. Amount payable is the amount 27.5% of the taxable incom...
Thu, 22 Oct, 2020 at 7:31 AM
Subordinated Debt
Refer to this guide about subordinated debt
Thu, 22 Oct, 2020 at 7:33 AM
Customise Financial line items
Question: I want to take out some of the line items to the imported financials from my accounting software. How can I do it? Answer:  If you use "impo...
Thu, 22 Oct, 2020 at 7:37 AM
Capital Gain tax (CGT) schedule - Main residence exemption - ITR
Question: I try to fill CGT schedule for an individual tax return however i am unable to find Main residence exemption under Exemption Type. Answer: Curren...
Thu, 22 Oct, 2020 at 8:49 AM
Net PL NOT showing as taxable income
Question: CTR net profit / loss in the tax return are not showing as taxable income. Solution:  1. Map accordingly the "Accounts" 2....
Tue, 1 Dec, 2020 at 10:41 AM
Status of SMSF (tax on taxable income)
Question:  I am finalising SMSF RETURN 2019, the tax on taxable income doesn't look right. SMSF pays 15% but LodgeIT says a lot more. Answer: All ...
Wed, 27 Jan, 2021 at 8:32 AM
"Owned, or had interest in, assets located outside Australia with total value of AUD $50,000 or more"
Question: Where can I find "Owned, or had interest in, assets located outside Australia with total value of AUD $50,000 or more" in Individual Tax...
Wed, 27 Jan, 2021 at 9:42 AM
Employee share schemes / Transferred total supplement income or loss
Question: How to enter this in ITR? Answer:  This amount is the total amount, and it can be visible only on printed return. Users cannot enter them dire...
Mon, 19 Apr, 2021 at 1:20 PM