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

Use this calculator in place of FBT JobPapers if you just want to calculate the taxable value of a car fringe benefit.

Calculations/2021/FBT – Cars
Calculations/2022/FBT – Cars