Individual: Income

NRAS (Share of National Rental Affordability Scheme Tax Offset)
The National Rental Affordability Scheme (NRAS) provides a tax offset to encourage investment in affordable rental housing.  Activate "Partnership&qu...
Mon, 25 Nov, 2024 at 10:13 AM
Income Average for a Sports Person
Activate "Other Income" via Manage sections,  Learn more from this guide - Income Averaging in Individual Tax Return (ITR) - Non Primary, an...
Tue, 19 Nov, 2024 at 1:39 PM
CMN.ATO.IITR.000263 / CMN.ATO.IITR.302101
Error:  Solution: Item W should be set to YES if an amount is entered at item B.
Tue, 19 Nov, 2024 at 1:33 PM
Student Loan Repayment (SFSS loan)
Question: Client has PAYG income and investment loss, but at the report it shows no repayment for student loan in FY 2019,2020. Repayment income includes th...
Mon, 25 Nov, 2024 at 12:14 PM
Deductions for Managed Fund
Question: The client has managed fund and has related deduction of management fees. I could not find the place in the managed fund worksheet where I can put...
Mon, 13 Jan, 2025 at 12:11 PM
Capital Gain Tax (CGT) distribution among investors
User can now distribute capital gains and losses among investors on the capital gains tax schedule. No need to enter the same data twice. The feature is av...
Wed, 11 Dec, 2024 at 10:16 AM
Unfranked Dividend appears in the Tax Form
Question: A tax return which is auto populating unfranked dividends in both the individual and also the company returns that have NOT been entered or paid. ...
Wed, 11 Dec, 2024 at 10:23 AM
Interest "Difference" in the tax form (ATO Prefill)
Question: When doing an individual tax return, there is prefilling interest from ATO and causing showing differences in the interest section. Please see the...
Wed, 11 Dec, 2024 at 10:25 AM
Foreign Resident Capital Gain Tax
Question: I have a client who is not an Australian resident in FY2020 and have share investments during the year. And there are some CGT events in 2020. How...
Wed, 11 Dec, 2024 at 11:44 AM
Foreign income tax offset (FITO) in Individual Tax Return (ITR)
LodgeiT doesn't calculate FITO. The user should calculate FITO limit manually Via Worksheet Foreign income tax offset is the sum of Foreign tax paid a...
Mon, 13 Jan, 2025 at 12:20 PM