LodgeiT

Illustration: A trust that has generated a capital gains tax (CGT) gain but also has a tax loss from business income. When attempting to distribute the CGT ...

CGT gains distribution is not showing up on the ITR. Net capital gain is not distributed from Beneficiary worksheet. Instead user can create CGT worksheet ...

If there is a carried forward losses from prior year, this is a method to split:  Whatever the prior year closing loss is, this amount is used to reduce th...

Question: The partnership distribution transferred to the Trust Tax Return is NOT picking up the small business income, share of the small business is not i...

Question: I am using excel to populate the tax return for trusts. In section 11 Interest, gross interest on accounts has been populated using the excel spre...

The ATO introduced two measures to support small businesses, the Small Business Technology Investment Boost and the Small Business Skills and Training Boost...

Tax losses deducted reduce the Net Income, not Net Small Business Income component. The Net Small Business Income cannot be reduced by prior year tax losses...

Question: If a trust has had to pay payg instalments where does this amount get entered as there is no “estimate” section as in a personal return, that it i...

This approach will work with a partnership or a trust. Note that the difference is that the partner loan balances are handled via the equity section rather...

There are two methods available for reporting on a Cash Basis in the Trust Tax Return 1. Select to import Financials on Cash Basis 2. Adjust out the non c...