Trust Tax Return
In a trust, it's possible that the trust activity involves income that needs to be classified to a sector other than Item 5 - Business Income & Exp...
Mon, 7 Sep, 2020 at 1:29 PM
In a trust, it's possible that the trust activity involves expenditure that needs to be classified to a sector other than Item 5 - Business Income &a...
Tue, 11 Aug, 2020 at 8:31 PM
"Deceased estate" option is available via the main section of the Trust form through "type of trust" field. Related Article: ATO ...
Mon, 7 Sep, 2020 at 1:36 PM
Solution: Just put Nil if there's no Trust Estate If Client has "Net Loss" - NO need to distribute this to the beneficiaries ...
Mon, 7 Sep, 2020 at 1:32 PM
Cashflow Boost is under a "Government Industry Receipts" and its tax free - classify as Grants Tax form view Income Tab From bel...
Thu, 24 Sep, 2020 at 7:54 AM
Classify Jobkeeper as - The income will reflect in the tax return as - Reference: ATO- Tax treatment of JobKeeper Payments ATO - Jobkeeper p...
Wed, 23 Sep, 2020 at 12:53 PM
Question: how to claim refund for a trust account and where to enter the details in the tax return. Answer: Please enter the details via Income>Interes...
Wed, 2 Dec, 2020 at 9:30 AM
Question: If a trust has an overall loss in a current financial year and also has some TFN withholding credit on interest income, are the beneficiaries enti...
Thu, 3 Dec, 2020 at 10:46 AM
Livestock report is stored in the tax form. It can be used as a working paper to compute average cost and closing inventory value. Make sure to activate &q...
Thu, 4 Mar, 2021 at 11:26 AM
Question: Trust is having a rented property income and data imported from 'QuickBooks Online' but it imported in LodgeiT as "Business" in...
Wed, 18 Oct, 2023 at 1:07 PM