Livestock – Forced Disposal
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
Lodgement Manager – Returns
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
Defined Benefit Income Cap Tool
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
Personal Budget
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
Franking Credit – Convert to Loss
For a company tax return, convert excess non-refundable franking offsets to an equivalent tax loss.
Calculations/2018
Stock – Private Use
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
Depreciation – Balancing Adjustment and Capital Gain/(Loss)
This workbook will calculate the assessable or deductible balancing adjustment, and if applicable the capital gain/(loss), on disposal of an asset depreciated under the uniform capital allowance system. It will also calculate the reductions to be made to the cost and termination value if the asset is a car and its cost exceeded the car limit and calculate the reductions to the balancing adjustment and capital gain/(loss) to reflect private use of the asset. Notional calculations are also shown for use in client accounting if applicable.
You can use this workbook to calculate the required figures when preparing a client’s tax return should your software not perform these calculations. You can also use the workbook before the financial year has ended to advise your client on the tax implications of disposing of the asset.
Calculations/2018 & 2019
Apportion by Value
This handy calculator will allow you to enter a set of values to calculate the total value and relative proportion of each component and enter an amount for apportionment. Examples of how this workbook could be used include –
- Calculate the amount of land tax for each property included in a single assessment for multiple properties; and
- Calculate the deduction for home office (place of business) expenses based on floor areas used for business and private purposes.
Calculations/Financial/Apportion by Value
Workplace Rights & Obligations for Small Business
The Fair Work Ombudsman’s (FWO) new Small Business Showcase is a virtual hub containing a wealth of tools and resources to help you meet your workplace responsibilities.
The Showcase helps you understand and deal with key workplace issues like hiring, minimum wages and keeping accurate records.
It also includes:
- short instructional videos on how to use their tools and resources
- an interactive checklist to check your knowledge of key workplace concepts
- online polls so you can share your insights and opinions on key workplace issues.
Library/W
Charge-out Rate Calculator
Calculate the charge-out rate for a small business service provider.
Calculations/Budgets & Projections/Charge-out Rate Calculator