This calculation has been updated with the following new features –

1. Option to enter either deductible or private periods;
2. Calculate deductible and private components of multiple amounts;
3. Additionally, further apportion by area if applicable;
4. Sort tables;
5. Protection of the calculation worksheet has been relaxed to allow use of empty cells; and
6. An additional DIY worksheet has been included to enable your own calculations or to insert supporting documents.

Use this worksheet to analyse the use of an income producing asset, such as a rental property or Airbnb listing, to calculate the deductions claimable against income received over multiple periods of mixed use.

Calculations/Financial Calculations/Apportion by Date

Use this workbook to project possible results under an ATO audit based on asset betterment.

Calculations/2018/ATO Audit – Asset Betterment

Download an ATO not lodged activity statement report for your practice and import it into this workbook for an in-depth analysis of your BAS lodgement obligations.  The features include –

• Once downloaded, it will take you just a few minutes to copy and paste ATO data into this workbook;
• The Dashboard has a summary of the number of outstanding activity statements on your client list by form type, client type and period end date;
• Activity statement statistics are shown in two groups, being those lodged by your practice and those lodged by your client.  You will need to identify this latter group in the data extracted from your practice management software.  Instructions on how to identify this group are incorporated with the workbook;
• The Dashboard also has a list of clients with more than one activity statement outstanding;
• An optional Manager Dashboard will allow you to import BAS managers from your practice software and analyse manager performance by period end date, client type and form type;
• The Manager Dashboard also displays a list of clients with more than one activity statement outstanding;
• Along with BAS managers, you can also optionally import each client’s email address and first name to enable emailing directly from the workbook;
• A further option allows you to import client mobile phone numbers with practice data to enable texting directly from the workbook.  You will need a service provider to use this feature with Microsoft Outlook; and
• You can choose any category of activity statement for email or texting by simply double clicking on any number in either dashboard.  A new sheet will be created with full details of the activity statements included with that number.  Send emails or text messages to these clients from the workbook.

This workbook will quickly put you in control of your ATO lodgement requirements.

Calculations/2018/Lodgement Manager – BAS

Determine the company tax rate for 2018 by analysing base rate entity passive income (BREPI) and aggregated turnover.  Trace passive income received as part of multiple distributions from partnerships or trusts.

Calculations/2018

Calculate tax profit on the forced disposal or death of livestock. Show profit to be spread across 5 years under option 1 and alternatively allow entry of replacement livestock for automatic calculation of reduction to those costs to absorb the deferred profit under option 2.

Calculations/Year

Download an ATO lodgement status report for your practice and import it into this workbook for an in-depth analysis of your practice lodgement program.  The features include –

• Once downloaded, it will take you just a few minutes to copy and paste ATO data into this workbook;
• The Dashboard has a summary of the number of current year returns on your client list by lodgement status, client type and due date;
• See the percentage of returns lodged by your practice to the date of the ATO report;
• View your 85% on-time lodgement targets for each of the due dates;
• The Dashboard also has a last year lodged analysis, revealing how far behind some clients are in their lodgement obligations;
• An optional Manager Dashboard will allow you to import client managers from your practice software and analyse client manager performance by lodgement status, client type and due date;
• The Manager Dashboard also displays weekly lodgement targets for each manager and due date as well as showing a last year lodged and return not necessary analysis by manager;
• Along with client managers, you can also optionally import each client’s email address and first name to enable emailing directly from the workbook;
• A further option allows you to import client mobile phone numbers with practice data to enable texting directly from the workbook.  You will need a service provider to use this feature with Microsoft Outlook; and
• You can choose any category of return for email or texting by simply double clicking on any number in either dashboard.  A new sheet will be created with full details of the returns included with that number.  Send emails or text messages to these clients from the workbook.

This workbook will quickly put you in control of your ATO lodgement requirements.

Calculations/2018/Lodgement Manager – Returns

This is a link to the ATO website to calculate the defined benefit income cap, the assessable amount to be included in the tax return and the amount of the tax offset that may be allowable.

Calculations/2018/Defined Benefit Income Cap Tool

This is a non-expiring monthly budget for use by your clients in managing their personal finances.  The workbook has been protected but without a password.  We recommend that you review this budget, make any changes to accommodate your preferences, including adding your practice name and/or logo and then use a password to protect the budget worksheet before giving it to your clients.

The features of this budget include –

• A flowchart demonstrating best practice in managing personal finances;
• Inbuilt formulas for payment patterns will enable automatic allocation of income and expenses across the twelve months;
• Income or expenses with erratic frequency can be entered directly to the months involved;
• Separate tracking of bills and personal spending;
• Calculation of a weekly spend amount to help contain out of control spending;
• Projection of the balance of the “Bills” account to reveal any shortfalls in monthly funds;
• The actual balance of the “Bills” account for any month can be entered to make projections for future months more meaningful;
• The ability to add a buffer (based on a multiple of your monthly provision) to provide for any interruption to your income or to cover individual monthly shortfalls;
• A completed annual budget can be copied within the workbook for future reference and the current budget can then be updated with details for the new year; and
• When customising this workbook for your practice, you can change the colour theme (Page Layout/Themes) to match your logo or practice colours.  You will need to unprotect both worksheets to change the colour theme and it is important that both sheets are then protected again with a password.

Calculations/Budgets & Projections/Budget – Personal

For a company tax return, convert excess non-refundable franking offsets to an equivalent tax loss.

Calculations/2018

This workbook calculates the amounts that the ATO will accept as estimates of the value of goods taken from trading stock for private use by taxpayers in named industries.

Calculations/2018