Just one file now and select the entity type at the dashboard.  New features include –

• New reconciliations for GST, wages, PAYGW & super;
• Import Excel worksheet or any user-selected range in that sheet; and
• Draft copy of activity statements now produced.

Calculations/2024/JobPapers/BAS

Summarise rental income and expenses in a foreign currency and convert to AUD.  Add your own exchange rates for any country not listed.

Calculations/2019 – 2023/Rental Income – Foreign

Take control of your ATO lodgements with this interactive lodgement dashboard.   Import your lodgement report from the ATO portal and a client report from your practice software to produce a dashboard showing –

• your overall lodgement performance for the year to date;
• the quantity and percentage of entity types that make up your client base;
• your lodgement performance by entity type for the year to date;
• current year lodgements by due dates showing the number due, the number already lodged and that percentage;
• an estimate of your 85% on-time lodgment requirements for future dates; and
• a lodgement summary for the prior 3 years showing clients with all 3 years outstanding, clients with the immediate 2 years outstanding, clients with just 1 prior year outstanding and the balance with no outstanding lodgements.

Using our new practice import wizard, import up to 3 levels of reporting data for each client from your practice software.  Reporting levels may include Accountants, Partners, Office Locations or whatever you need.

These are just 3 examples of the questions that this lodgement manager can answer for you instantly –

1. From a list of staff responsible for lodging returns, how do they rank and which of those staff members are behind and need help;
2. How many company returns need to be lodged by your Sydney office by 31 October and who are the staff members responsible for lodging; and
3. How many clients have not lodged all of their 3 prior year returns.

Calculations/2023/Lodgment Manager – Returns

This new addition to our JobPaper collection has been requested by a number of our users.  Keep all of your supporting records, reports and calculations for both returns together in this file and make use of the handy job management tools and Accountants Desktop templates included with the workbook.

Calculations/2023/Returns – Individual

This calculation is the Home Office Expenses workbook from 2022 but updated with an improved layout and expanded help.  It calculates the running expenses claimable where your client works from home, using the revised fixed rate and/or actual costs methods.   If applicable, it calculates occupancy (place of business) deductions for those self-employed or business owner clients or for those employee clients without an employer provided place to work.  It also inlcudes a handy business use calculator to calculate the proportion of expenses deductible based on floor area and time used.

Calculations/2023/Working From Home

Thanks to a request from one of our users, this calculator now allows you to analyse a potential property investment over any period from 1 to 10 years.

Calculations/Budgets & Projections/Property Investment Analysis

Our existing calculator has been updated to include the following new features –

• There are now 2 options for calculating the cost price of a car for FBT purposes.  Calculate from the contract price and make reductions or enter the individual components;
• The OWDV of a car and accessories added after purchase are now automatically calculated but you still have the option of entering your own calculation;
• A new “days available for private use” calculator has been added; and
• Information about calculating the benefit and using the workbook has been expanded.

Calculations/2023/FBT – Cars

April is a good time to do some tax planning with your clients.  The 2023 version of our tax planning workbook has now been uploaded to the Calculations module.  Features include –

• Project YTD profit to the end of the financial year using one of 3 options;
• Explore tax planning measures to reduce the client’s taxable/net income;
• View the marginal tax rates and income available at those rates for all related parties for tax-effective allocation of projected profit; and
• Automatic calculation of tax payable by a large range of taxpayer types including Residents, Non-Residents and Minors, all with a combinations of MLS and/or HELP where applicable, as well as Seniors, Companies (standard & base rate), Super Funds (accumulation and pension phases) and Trusts.

Calculations/2023/Tax Planning

Reconcile rental income and deductions from agent and client records with multiple rental income schedules on the client’s tax return.

Calculations/2022/Rental Income – Reconciliation

A new template calculation, Loan – Related Party, has been added to company, trust, partnership and sole trader JobPapers.

Calculations/2022/JobPapers

Amortise a related party loan, calculate daily interest, closing balance and payout amount.
Replaces Interest – Related Party.

Calculations/2022 & 2023/Loan – Related Party

Convert foreign income, deductions and tax paid to AUD, calculate the offset limit and amount claimable.

Calculations/2022/Foreign Income Tax Offset

Now manage lodgement of client returns in an interactive dashboard using up to 3 user-defined reporting levels.

Calculations/2022/Lodgement Manager – Returns

Calculate interest on a related party loan.

Calculations/2022 & 2023/Interest – Related Party

Calculate the CGT discount percentage for an individual with periods of foreign ownership.  This is a stand-alone version of the calculation in CGT – Property.

Calculations/2022 & 2023/CGT – Discount

Now calculating the CGT discount for periods of non-residency.

Calculations/2022/CGT – Property

Determine your client’s eligibility for the small business CGT concessions and calculate the gain.  This Q & A style calculator includes the following –

• Answer questions to test basic eligibility as well as eligibility for each of the 4 concessions
• Calculate aggregated turnover
• Calculate net asset values
• Identify CGT concession stakeholders
• Show results for the significant individual and 90% tests
• Calculate the gain
• Use your own order for claiming each concession
• Handy tracing calculator

Use this calculator either before the event for tax planning purposes or after the event to complete the client’s income tax return.

Calculations/2021 and later

For any entity type –

• Project annual profit from part-year accounts
• Adjust profit for tax reconciliation items and calculate taxable/net income
• Deduct tax planning measures
• Add names and other income of all related parties
• Calculate marginal tax rates (MTR) and income available at that rate for both the client and related parties
• Allocate taxable/net income and/or make deductible payments to related parties tax effectively using MTRs and income available at that rate

Video (13:08)
Calculations/Year/Tax Planning