Individual Tax Return
The National Rental Affordability Scheme (NRAS) provides a tax offset to encourage investment in affordable rental housing. Activate "Partnership&qu...
Mon, 25 Nov, 2024 at 10:13 AM
Select as "NO" in the Australian Resident line, so that LITO will not be reflected in the tax form. New full offset amount of LITO (thresholds ...
Mon, 25 Nov, 2024 at 9:25 AM
This includes authors of literary, dramatic, musical, or artistic works, inventors, performing artists, production associates, or active sportspersons. Spec...
Mon, 25 Nov, 2024 at 12:59 PM
Question: Rental property interest portion is not flowing through to all respective shares in the rental property section of the tax return Answer: Via &q...
Wed, 11 Dec, 2024 at 9:58 AM
Question: Can you explain the difference of this "Dividends" Answer: If there is an import of financials, it will show in item " Dividend...
Tue, 19 Nov, 2024 at 1:45 PM
Question: I noticed the ATI didn't take off the rental loss Gross Wage $104657+ interest $251 less Deduction: $2586 =$102,322 ATI The software did...
Tue, 19 Nov, 2024 at 1:48 PM
Question: 1. Can you please explain how the lump sum tax offset calculated? 2. Why has it not allowed the full amount? I believe that the client is in t...
Mon, 25 Nov, 2024 at 11:55 AM
Activate "Other Income" via Manage sections, Learn more from this guide - Income Averaging in Individual Tax Return (ITR) - Non Primary, an...
Tue, 19 Nov, 2024 at 1:39 PM
Error: Solution: Item W should be set to YES if an amount is entered at item B.
Tue, 19 Nov, 2024 at 1:33 PM
Question: Client has earnt above higher education loan repayments threshold however LodgeIT is not picking up the reportable fringe benefits amount so there...
Mon, 25 Nov, 2024 at 12:00 PM