Individual: Income

Carry Forward Foreign Property Loss
Question: Where we could enter foreign property loss which needs to be carry forward? Answer:  If your foreign capital losses exceed your capital gains, y...
Thu, 5 Dec, 2024 at 1:15 PM
CMN.ATO.INCDTLS.000014
Error: CMN.ATO.INCDTLS.000014 - Superannuation income stream component amounts are incorrect. Answer: The error "CMN.ATO.INCDTLS.000014" is the...
Thu, 5 Dec, 2024 at 1:04 PM
Net Financial investment loss (Label IT5) Calculation
"Net Financial investment loss" calculation 20M1 Total dividend income or managed investment scheme income from foreign companies" + "2...
Thu, 14 Nov, 2024 at 1:15 PM
Partial "Expense" share amount for Rental Property
Illustration. A client who owned a property jointly with husband for a period and she owned 100% after divorce settlement, but for entire period she had on...
Mon, 13 Jan, 2025 at 1:21 PM
CMN.ATO.IITR.311085
Error: Total CGT Discount applied amount is incorrect Please turn-off “Utilise losses manually”  Via "Income" > "Capital Gain", o...
Thu, 14 Nov, 2024 at 12:57 PM
18V: Unapplied Net Capital Losses Carried Forward
The sum of A and B is the same as 18V. For Capital Gains, LodgeiT uses design from Capital gains paper schedule. ATO form- https://iorder.com.au/publ...
Fri, 25 Oct, 2024 at 11:31 AM
Australian franking credits from a New Zealand franking ompany (From Trust)
Activate "Trust" via Manage section Via Item 13 ,select "Trust" from the Income tab, "Add Worksheet" Open the Trust, and...
Fri, 7 Feb, 2025 at 6:58 AM
Share Percentage for "Less Cost Incurred" in Capital Gain
Illustration: A Shares owned by two taxpayers, I need to allocate 1/2 for each. Fill-up the "Less cost incurred", click the line item and ...
Mon, 13 Jan, 2025 at 1:25 PM
How to reduce the capital loss that was carried over from previous years
Question: I have a capital gain in this current year and need to know what section i input to reduce the capital loss that was carried over from previous ye...
Tue, 26 Nov, 2024 at 7:40 AM
CGT gains distribution is not showing up
CGT gains distribution is not showing up on the ITR. Net capital gain is not distributed from Beneficiary worksheet. Instead user can create CGT worksheet ...
Tue, 28 Jan, 2025 at 12:54 PM