SMSFAR: Income
Activate "Capital Gain" from Financial image You have an option: a. Fill the form manually (simply follow the ATO Form instructions) b. Answer i...
Mon, 3 Feb, 2025 at 12:31 PM
Question: SMSF form not transferring taxable income to summary only expenses. Answer: Total income is not included in taxable income when question 10 is YE...
Thu, 30 Jan, 2025 at 1:39 PM
Activate "Dividends" via manage sections From "Income" tab, select "Dividends". then, click the "+" and a...
Thu, 30 Jan, 2025 at 1:44 PM
Question: How to treat contribution as "Non Assessable"? Answer: With the non-concessional contribution income, we do not record that income any...
Thu, 30 Jan, 2025 at 1:52 PM
Press "Income" tab and add via item 11 Gross rent and other leasing hiring income
Thu, 30 Jan, 2025 at 1:56 PM
Franking Credits should be manually entered on SMSF's tax return. First, make sure to activate "Dividends" via manage section Select "...
Thu, 30 Jan, 2025 at 2:05 PM
Question: If the Question "Did the fund have any other income that was assessable" is answered NO, the Exempt current pension income amount doesn&...
Fri, 31 Jan, 2025 at 12:07 PM
Question: Lodgeit has excluded the contributions as assessable income and consequently the taxable income is wrong. Solution: Should answer YES to questi...
Fri, 31 Jan, 2025 at 12:55 PM
Error: CMN.ATO.CGTS.402178 - Small business retirement exemption is not valid for Self Managed Super Funds This is an ATO error and cannot be avoided...
Mon, 3 Feb, 2025 at 12:48 PM
Below is an image showing an amount ($12,964) in "D1 Gross foreign income". Inputting data in D1 will not add value in the Taxable Income. You ...
Mon, 3 Feb, 2025 at 12:50 PM