LodgeiT

The way the forms work is that the accounting-related dividend facts are for reconciliation purposes. Tax-related dividend facts must be added separately. P...

Losses are transferred when new report for the next year is created. Also user can rollover anytime from previous year using Rollover button. Currently Cap...

For small businesses (turnover < $10 million) we suggest using simpler depreciation methods. Essentially, you get to write-off all assets that are not fi...

Minutes should be prepared before 30 June. Check this related link from ATO

The correct approach is using "Accrual" rather than "Cash", this is based on the tax form design/instruction perspective. This can be ve...

Company has a profit of $100, pays tax of $27.5, then pays a full dividend of $72.50 that reduces retained earnings to zero  with franking credit of $27.5 b...

Company has a profit of $100, pays tax of $27.5, then pays a full dividend of $72.50 that reduces retained earnings to zero  with franking credit of $27.5 b...

Question:  I want to carry back the loss of FY 2019-2020 to offset profit in FY 2018-2019. How it is done in LodgeIT? Answer: From a timing perspective, th...

 "Loss carry back tax offset" calculation. Here is the article from ATO: According to it we're following instructions this way: (1)...

**Loss carry back rules can only be used in the 2021-onward form. ATO guide Loss carry back tax offset tool Note: It is necessary to visit the Reconc...