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AU Tax: CGT - Option to copy and transfer

Capital gains tax worksheet - where an capital assets is owned by more than one person say husband and wife 50:50. If the worksheet has been prepared for one taxpayer, have an option to have this copied/ transferred to the other taxpayer similar to rent schedule.

For property generally there could be just one item but for shares there may be huge number of CGT events.

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Dinesh Raghvani Mint shared this idea  ·   ·  Report…  ·  Admin →
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submitted  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hiya team, we had high hopes but unfortunately we've had to put plans for being able to copy & transfer the Capital Gains Tax(CGT) worksheet down for the intermediary.

We still intend to bring focus to this idea over the longer term but will shift this idea back to Submitted for now until we can begin active development. As soon as there's more word to share I'll be back with an update, here 

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  • Nick Munro commented  ·   ·  Report

    It is frustrating that Xero spends time on updating the look of fixed assets (and taking away simple things like being able to see when depreciation was last run, for no discernable benefit from the changes), and doesn't spend time on fixing details like this. If you are going to be in the business of providing Tax software, do it properly!

  • Irene Efstratiou commented  ·   ·  Report

    It’s disappointing to hear this has been delayed — being able to copy and transfer the CGT worksheet feels like a basic function. It’s something we’ve come to expect, and it’s important that Xero continues to keep up with practical needs like this.

    Looking forward to seeing progress on it when development picks back up.

  • Daniel Soo commented  ·   ·  Report

    This functionality to auto fill the other related tax returns is a good thing.

    It saves time and minimizes errors when we have to input duplicates or more copies if CGT event affects more clients.

    Hope XERO would not hold this.

  • Lucy McGlone commented  ·   ·  Report

    this is required urgently & is a basic function
    literally data entering same info twicer for every rental property sale

  • Vicki Stephenson commented  ·   ·  Report

    Xero we are still waiting and this should have been adopted by now. I commented on this a couple of years ago.This update is essential, easy enough to implement as it is done for a rental schedule and is time saving for us. 30 April 2024 - Xero comments we will add it to under review and its been planned for over the next 12 months. Time is up - maybe you will implement for the 2025 AU Tax returns?

    Still waiting.....

  • Suman Devkota commented  ·   ·  Report

    It's been more than a year since the last comment from Xero's team. Are there any updates on this, dear Xero team?

  • SHANE HEDLEY commented  ·   ·  Report

    Really an essential missing feature which is fairly standard across tax prep software

  • Leon Lam commented  ·   ·  Report

    true, this would save time and be the optimal way to use the Capital schedule

  • Vicki Stephenson commented  ·   ·  Report

    Just hoping this does eventuate to a reality, it is a function that existed for years in handitax and I mean years..... and I cannot understand why you have the function built into rental property schedules but not CGT. It is such a time waster repeating the data into separate income tax returns and should have been automated years ago

  • Miranda Bravo Hollands commented  ·   ·  Report

    This is such an important feature that we need. HandiTax has been able to do it for years.

  • Scott Bailey commented  ·   ·  Report

    Every other tax software I have used has this feature and saves so much time. To me this should be a standard feature

  • Simon Etheridge commented  ·   ·  Report

    The ability to post CGT calculations between say husband and wife is critical, especially when you have multiple share trades. To have to enter everything twice is a complete waste of tiem.

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