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For accountants & bookkeepers: Xero Tax

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AU Tax - Ability to create future tax forms for other entity types.

Ability to have future tax forms generated for multiple entity types and not just individuals. This will enable practitioners to prepare tax returns for entities that have substituted accounting periods much before the due dates without having to request extensions from the tax office also will give us the ability to work out the timing differences on tax profit more accurately rather than relying on spreadsheets etc.

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Yayati Sudame shared this idea  ·   ·  Report…  ·  Admin →
Completed  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi team, along with the CRT, future year forms for trust(TRT), partnership(PTR) and fringe benefit(FBT) are now available to all Partners within Xero Tax (AU)! Once again, thanks for all engaging and interacting with us about this on Product Ideas. We hope these new forms improve your efficiency to lodge client returns early 😊

Show previous admin responses (5)
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  • Melanie Costin commented  ·   ·  Report

    Thank you :) This will make the finalisation of deceased estates and vesting of trusts so much easier.

  • Anthony Zanda commented  ·   ·  Report

    I had to complete a manual tax return for a simple estate, which via the ATO mandate, should have been processed in 28 days. It took 3 months due to the return being a paper return. The ability to prepare a future return will just speed up the whole process.

  • Christopher LAZAREDES commented  ·   ·  Report

    Any update on TTR's? As mentioned below several times, it would be very handy for winding up deceased estates.

  • Josh Tilley commented  ·   ·  Report

    Good that future company returns can be done, but surely it isnt that hard to build one for trusts and partnerships too?

  • Paul Howlett commented  ·   ·  Report

    I literally completed a 2025 paper Trust return yesterday for a deceased estate that is being wound up...

  • Suman Devkota commented  ·   ·  Report

    Hi Kelly,
    This future year CTR doesn't allow to pull the figures from Xero (blue files). Will this be the second phase of the development?

    Thanks,

  • Shirin Haklar commented  ·   ·  Report

    Hi Team What about other entities? Trusts and individuals?

  • Megan Holliday commented  ·   ·  Report

    We are only using it for future returns not available in Xero, so far it is fairly user friendly and only $120 for 5 lodgements and then $40 a lodgement after that. It allows you to import financials from Xero and other software programs I believe. We have only used it for a few companies and some deceased estates so far.I am not sure it speeds up processing at ATO as the estate is taking awhile but company processed fairly quickly.
    You can schedule a time for the company to go over what it does.

  • Louise Harris commented  ·   ·  Report

    Can I have feedback on user experience on LodgeIT - we are also considering using it

  • Megan Holliday commented  ·   ·  Report

    We gave up waiting we use LodgeIT for future returns now.

    (Edited by admin)
  • Magda Robinson commented  ·   ·  Report

    Hi Xero Team,
    Not long to go now before the 12 month anniversary of your post made on the 30th April 2024, which advised that you were working on the future returns function for company returns over the next 12 months. Where are we at?

  • Lujing Zhang commented  ·   ·  Report

    Hi Xero team,

    It feels like forever since you announced plans to develop Company Tax Returns (CTR) for the future. Could you provide an update on the progress? It's time to prepare early balance CTR again now.

    Looking forward to your response!

  • Julie McDiarmid commented  ·   ·  Report

    Deceased estates need to be prepared in advance so TRT feature would be most helpful

  • Anthony Zanda commented  ·   ·  Report

    Trust returns are important for those Deceased Estates that need to be wound up prior to the end of each Tax Year.

  • Nikki Firth commented  ·   ·  Report

    Xero, could we move this up the list of urgency as per the comments below please? It's very important that this feature is available for other entities and not just individuals. We shouldn't have to resort to other SBR tax providers....

  • Julie-Anne (Jewlz) Ellem commented  ·   ·  Report

    This is also very important for preparing Partnership tax returns, and for returns for entities (companies etc) that want to wind up and get tax back prior to winding up for the current financial year period (eg due to family breakdowns etc). And also, in the delicate matter for Estate returns, where families want to be able to move on and manage the tax affairs of loved ones for distributions and to not be constantly reminded of the date of death etc.

  • Sharon Voisey commented  ·   ·  Report

    Being able to create future Estate returns to finalise the Estate is very important to our clients.

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