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
Note: This is only applicable only for a tax form year 2020-Present. Make sure to activate first the "Foreign" via "Manage section&q...
Fri, 7 Feb, 2025 at 10:30 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
Rental Property Split (Rental Worksheet)
The "Rental Worksheet is automatically linked/synched as long as the partner/spouse is built from the "Relationship" tab. In this case,...
Wed, 21 Aug, 2024 at 8:52 AM
Rental Schedule from QuickBooks
For Rental Properties, you need to manually add them in FORMS, because Accounting facts is not injected (ie not injected via import of financials). Also, m...
Thu, 31 Oct, 2024 at 1:49 PM