LodgeiT

Find the losses section via "Net Income", select "Losses Deducted" Tab It is also recommended that you update the Losses schedule bec...

Find the losses section at the "Net Income" > "Losses" section. The question "Are you required to lodge losses schedule or co...

Error: "Net Trust Income must equal distributed income"

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...

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 ...

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...

If you operate your business as a trust, and you incur a tax loss, you cannot distribute the loss to the trust’s beneficiaries. Instead, losses must be quar...

Here is how the distribution of trust income to the beneficiary works in LodgeiT.  LodgeiT supports transfer of capital gain only to individual beneficiari...

Make sure to activate "Business" via manage section.  Go to Financials and click Accounts.  There should be an Income figure mapped a...

This video demonstrates how to handle the reporting of a capital gain given that the accounting gain may well be different to the tax gain.  Shows how to...