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FBT JobPapers for 2024
The 2024 version of our working paper file for FBT jobs is now available for download. Updates to the calculator this year include –
- Protection over all sheets has been minimised to include just our formulas and labels or text, giving you more flexibility in adding your own data or comments;
- You can now import Excel or CSV data to any unprotected cell in this workbook with just a few clicks on that option in the Accountants menu, consistent with our other JobPaper files;
- A new Table group in the Accountants menu now allows you to work better with our tables. Options in this group include insert or delete multiple rows, sort columns and fill down data (the latter can also be performed outside tables);
- Insert pictures, shapes, icons or screen shots in all sheets to make it easier for you to follow or review your work;
- New items in the Tools menu group include clear formats and fit or reset column widths to allow more flexibility in managing your data; and
- If you need help or would like to provide feedback, click on the Email Support button in the Tools group to open a new email using your default email program and our address and the exact file name/version will be inserted in your email.
And just a reminder that this JobPaper can be used for all employer types (taxable, exempt or rebatable) and has worksheets to calculate all benefits to be shown on the FBT return form.
You can access a video on this calculator at Main Menu/Videos or click on this link to view it on our YouTube channel.
Calculations/2024/JobPapers/FBT
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Hire Purchase Calculators (2023 and later)
With the exception of the Hire Purchase Summary and Hire Purchase Payout calculators, each calculator can now be used for any contract date on or before the year end of that calculator. e.g. For a contract beginning on 15/02/19 you can now use the 2023 or 2024 calculator. Previously you had to navigate back to the file for the financial year during which the contract began (2019 in our example). The Journal worksheet now reconciles journals with the schedule.
Calculations/2023 & 2024/Hire Purchase etc
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Tax Planning 2024 New
Our tax planning workbook for 2024 is now available for download. With this calculator you can –
- Update YTD profit to include missing items and to exclude non P&L items.
- Project YTD profit to the end of the financial year using one of three options.
- Make tax reconciliation adjustments to that projected profit to calculate taxable/net income.
- Explore tax planning opportunities and calculate tax payable by all entities and individuals in the client group.
- Account for tax on deductible payments by client to associated entities or individuals.
- Account for contributions tax and Division 293 tax on deductible super contributions where applicable.
- For discretionary trusts, view the marginal tax rate for beneficiaries and income available at that rate.
- Calculate tax saved or deferred from tax planning.
For a demonstration of this calculator in action go to the video on our YouTube channel. Make sure that your quality setting in YouTube is HD.
Calculations/2024/Tax Planning
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BAS JobPapers 2024 Updated
The formulas and protection have been removed from the opening balance cells in the reconciliation sections for GST and Payroll to enable use of this working paper part-way through the year and to allow the entry of an opening balance for clients with a quarterly cycle at the quarterly section (previously had to enter at the July sheet).
Calculations/2024/JobPapers BAS
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Rental Income Calculators – Updates
This calculator has been updated to add an “Other” column for expenses paid directly by the owner rather than via their agent –
Calculations/2023/Rental Income – Foreign
These calculators have been updated to include descriptions for borrowing expenses, capital allowances, capital works (interest was already included) and when these amounts are added to the “Other” column, you can now reconcile net rent in our calculator with the clients’ rental income schedule on their return –
Calculations/2023/Rental Income – Foreign
Calculations/2023/Rental Income – Private Use
Calculations/2023/Rental Income – Standard
Calculations/2024/Rental Income – Private Use
Calculations/2024/Rental Income – Standard -
Effective Tax Rate – User Request
Calculate the effective tax rate for your client group. This calculator can be used for any year so you will find it under Financial Calculations.
Calculations/Financial/Effective Tax Rate
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Small Business Boosts – User Request
Calculate the bonus deductions claimable under the Small Business Technology Investment Boost and the Small Business Skills & Training Boost.
Calculations/2023/Small Business – Technology Boost and Small Business – Skills Boost
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BAS – 2024
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
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Rental Income – Foreign
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
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Lodgement Manager – Returns (2023)
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 –
- From a list of staff responsible for lodging returns, how do they rank and which of those staff members are behind and need help;
- 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
- How many clients have not lodged all of their 3 prior year returns.
Calculations/2023/Lodgment Manager – Returns