Individual: Income

Interest on loans for shared owner
Question: Rental property interest portion is not flowing through to all respective shares in the rental property section of the tax return Answer: Via &q...
Wed, 11 Dec, 2024 at 9:58 AM
Dividend difference (Taxable and Accounting Facts)
Question: Can you explain the difference of this  "Dividends"  Answer: If there is an import of  financials, it will show in item " Dividend...
Tue, 19 Nov, 2024 at 1:45 PM
Salary and Wage: Occupation Code Description
TABLE OF CONTENTS Update Occupation Code Occupation not Listed Update Occupation Code The occupation codes and descriptions in LodgeiT are sourced ...
Tue, 10 Dec, 2024 at 9:54 AM
Foreign Rental worksheet
This is applicable only for a tax form year 2020-Present. Press "Income" and select "Foreign", scroll through item 20. "Add ...
Fri, 20 Dec, 2024 at 7:52 AM
Non-Australian Resident with Interest income
Scenario: Taxpayer who is a non-Australian resident and has interest income. If the person was outside Australia when he received interest then amount woul...
Mon, 4 Nov, 2024 at 9:47 AM
Individual Tax Return (ITR) with Partnership (with $20K loss assessable income)
Turn on "Partnership" via manage section (located top right of your ITR form) From "Income" tab, select "Partnership", pres...
Thu, 3 Oct, 2024 at 12:17 PM
Partnership Losses
Assuming a partnership loss is entered under partnership income- You will need to activate "Business" via manage section.   Navigate ...
Tue, 5 Nov, 2024 at 1:46 PM
Capital Allowance Recoupment
Question: Where to put capital allowance recoupments? Answer: Activate "Capital Gains" via manage section Once activated, complete the "W...
Thu, 3 Oct, 2024 at 12:10 PM