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Foreign and temporary residents are subject to CGT only on taxable Australian property, such as real estate in Australia and assets used to carry on a busin...

Question:  CGT discount on capital gains from Managed Funds is not available. Answer: Please fill “Capital gains – discount method”

Make sure to activate "PAYG" Via "Income", press "PAYG", update it via Item 1 Salary or Wages Open the existing pa...

Question: How to add in Prior Year Capital Losses. Solution: Go to "Income" tab > Capital Gains > Prior year net capital losses> clic...

Make sure to use correct "Type", and system automatically calculating, depending on the "Purchase date" of the item.  You may a...

Illustration: For NAB shares, there is a capital gain of $2,129.27, and for the property sale, there is a capital gain of $19,418.10. Both amounts have been...

Activate "Tax Offset" via Managed sections The amount in ‘T2 Australian superannuation income stream’ should include the sum of tax offset...

Activate "Partnership" via manage section When preparing your individual income tax return (ITR) that includes partnership distributions, yo...

Question: I have processed a clients income tax return including their superannuation income stream. I took out the taxable field as it is non taxable as pe...

You need to include a bonus amount  this item if all the following conditions apply:  You received the bonus amount, or directed how it is to be dealt wit...