Preparation of Company Tax Return
The video provides the following guide about the basic of Company Tax Return –
- Preparation of Company Tax Return
- Working with imported accounting information
- Making changes to classifications
- Handling taxable interest
- Handling taxable dividends
- Handling taxable trust income
- Handling taxable partnership income
- Handling taxable capital gains
- Treatment of accounting vs. tax depreciation
- Treatment of superanuation payable
- Treatment of addbacks i.e. entertainment
The Basics
To work with a company tax return, first ensure that all the necessary information about the company has been added to LodgeiT. If you fail to do this, you will encounter a range of difficulties.
Select Form
Add Form
Add CTR
Select the Year to Fill. Note that we have changed the design for the form from 2017 onward. Old forms can still be used.
“Lodgement Date” is automatic date from ATO, but you can also manage to change it if necessary.
Assuming you’ve imported your accounts and classified them, the relevant sections of the form should be activated for use. If you need to activate other sectors for manual fill, select them and then push Complete to initiate the task of completing the form.
Once you’ve worked in the form, you may need to turn-on certain reporting sections. You can do so via –
Click here for related Video about Depreciating Assets
Checkout some of our Help guide:
Company Tax Return List of Articles
Form Workflow Sequence and E-signature