Individual Tax Return

How Lumpsum tax offset calculated?
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...
Sat, 23 Oct, 2021 at 10:23 PM
Income Average for a Sports Person
Question: How to income average for a sports person over 4/5 years?  Answer: Check this guide - Income Averaging in Individual Tax Return (ITR) - Non Prima...
Tue, 14 Dec, 2021 at 11:08 AM
CMN.ATO.IITR.000263 / CMN.ATO.IITR.302101
Error:  Solution: Item W should be set to YES if an amount is entered at item B.
Thu, 4 Nov, 2021 at 8:14 AM
Low Family Income / Repayment Threshold for HECS
Question: Client has earnt above higher education loan repayments threshold however LodgeIT is not picking up the reportable fringe benefits amount so there...
Mon, 6 Jun, 2022 at 8:35 AM
Adjusted Taxable Income (ATI) and Estimated Total Income
Question: I am preparing an individual income tax return and am mystified as to where the Adjusted taxable income amount is coming from.  Answer:  ATI ...
Sat, 25 Mar, 2023 at 12:04 PM
How to find "deferred losses amount"/Deferred Losses related to Partnership
Question: Can you advise where should I input the deferred losses amount from 2020 (losses from partnership) into current 2021 individual tax return. The pa...
Wed, 17 Nov, 2021 at 8:56 AM
Why the prefill is going into PSI not to "other labour income"?
Question:  Why the prefill is going into PSI and not just other labour income in normal business income P8 - labour hire."? Answer: ATO prefill report...
Wed, 17 Nov, 2021 at 9:02 AM
Student Loan Repayment (SFSS loan)
Question: Client has PAYG income and investment loss, but at the report it shows no repayment for student loan in FY 2019,2020. Repayment income includes th...
Mon, 20 Dec, 2021 at 11:15 AM
Deductions for Managed Fund
Question: The client has managed fund and has related deduction of management fees. I could not find the place in the managed fund worksheet where I can put...
Mon, 20 Dec, 2021 at 9:46 AM
Child Support
Question: How do I record child support in my income . there is a option in spouse section showing how much I have received, but then it required all spouse...
Thu, 3 Feb, 2022 at 7:37 AM