Archives: Recent Updates

Records checklists and interview notes for personal returns for 2025 are now available for download. Send the records checklists to clients to make sure you get all the information you need to prepare their return and avoid time wasting requests for missing information. There are two records checklist options; a simple one-page checklist and a…

This handy worksheet will help you calculate gross income and net assets for a sophisticated investor certificate. Find it at Calculations/Financial/Sophisticated Investor

Our trust distributions calculator has been designed to help you calculate tax-effective distributions by your discretionary trust clients. You can use it for both non-streaming and streaming distributions. The process involves estimating net income of the trust for tax purposes, calculating tax-effective distributions to beneficiaries and converting those amounts to accounting distributions for the resolution.…

Our new Tax Money calculator is designed to help your small business clients keep a real-time estimate of future BAS, income tax and payroll related payments. Identifying these amounts at their taxing point will help clients avoid spending funds that aren’t truly available. And, they could be “parked” in a separate high-interest savings account, or…

This calculator has been updated with the latest ATO benchmarks from 2023 returns published in 2025. Find it at Calculations/2024/Benchmarks

Whether you need to prepare an FBT return, or simply calculate the value of benefits for an employee contribution, our FBT files have you covered. The full set of working papers can be used for all employer and benefit types. These are the files for 2025 which are now available for download – Excel Files(a)…

Our tax planning calculator for 2025 is now available for download. And you can view a video demonstration on YouTube here. Use this workbook to help with tax planning opportunities for your clients. The important features of this calculator include – Find it at Calculations/2025/Tax Planning

Updated – User Request New columns have been added to this calculation to enable identification of franking credits that are not claimable under the holding period rule. You have the option of showing or hiding these new columns. Also enter franking credits received through partnerships and trusts to compare the client’s total franking credits with…

The ATO is watching your professional clients to see if they comply with the guidelines in PCG 2021/4 when allocating profits to individual practitioners. These guidelines apply to professional firms which include, but are not limited to, accounting, architecture, engineering, financial services, law, medicine and management consulting. Direct quotes from the guidelines include – This new…

There is a new menu item in our Calculations module with specific help on the following procedures which will help you get the most out of using our Excel files – Calculations/About Using Excel