Recent Q & A

Subordinated Debt
Refer to this guide about subordinated debt
Thu, 22 Oct, 2020 at 7:33 AM
Customise Financial line items
Question: I want to take out some of the line items to the imported financials from my accounting software. How can I do it? Answer:  If you use "impo...
Thu, 22 Oct, 2020 at 7:37 AM
Capital Gain tax (CGT) schedule - Main residence exemption - ITR
Question: I try to fill CGT schedule for an individual tax return however i am unable to find Main residence exemption under Exemption Type. Answer: Curren...
Thu, 22 Oct, 2020 at 8:49 AM
Net PL NOT showing as taxable income
Question: CTR net profit / loss in the tax return are not showing as taxable income. Solution:  1. Map accordingly the "Accounts" 2....
Tue, 1 Dec, 2020 at 10:41 AM
Status of SMSF (tax on taxable income)
Question:  I am finalising SMSF RETURN 2019, the tax on taxable income doesn't look right. SMSF pays 15% but LodgeIT says a lot more. Answer: All ...
Wed, 27 Jan, 2021 at 8:32 AM
"Owned, or had interest in, assets located outside Australia with total value of AUD $50,000 or more"
Question: Where can I find "Owned, or had interest in, assets located outside Australia with total value of AUD $50,000 or more" in Individual Tax...
Wed, 27 Jan, 2021 at 9:42 AM
Employee share schemes / Transferred total supplement income or loss
Question: How to enter this in ITR? Answer:  This amount is the total amount, and it can be visible only on printed return. Users cannot enter them dire...
Mon, 19 Apr, 2021 at 1:20 PM
Retained earnings to distribute to beneficiaries
Question: Problem with the FY report . The report keeps generating retained earnings where income needs to be distributed to beneficiary ? Answer:  Please...
Sat, 16 Mar, 2024 at 9:41 PM
Round off (nearest integer)
Question: Stuff is rounding DOWN even when above 50 cents. Answer: Note, each amount (franked, unfranked, franking credit) should be rounded down to neares...
Mon, 24 May, 2021 at 7:06 AM
Lodge tax return without ABN
SBR doesn't allow to lodge tax returns without ABN, unless is a business intermediary who lodges tax return on behalf of 
Tue, 8 Jun, 2021 at 11:00 AM