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.
Rita Maritsas commented
In addition, will give us the ability to lodge tax returns for SMSFs/Trusts that are being wound up before 30th June. The ATO has updated their Future Tax Returns eligibility to include companies, super funds etc if they are SAP etc
Stacey Quinn commented
Yes please - would be very helpful to assist with winding up companies
Jennifer Wain commented
we need this for our NZ registered companies who need to lodge 31 March returns in Australia.
Ronilo Tumakay commented
Please add this. Big help especially for winding up business early in a financial year.
Trent Simonovic commented
It's an obvious feature that really should already be in place. The ATO support it through SBR, and it uses the current year forms so really there shouldn't be much work needed from Xero's end to put this in place. It seems crazy that we still need to prepare and lodge paper returns because Xero doesn't support it.
Ruzica Sajler commented
This would make winding up entities so much easier. Especially SMSF's.
Rohan Kumar commented
This will be very useful and handy
Sussann McKinney commented
Please add this. Would be such a help.
Jeff Zivin commented
It will make the winding up of a client's affairs more efficient. Especially for SMSF
Joanne Chubb commented
Very important to be able to finalise a wound up entities affairs in a timely fashion
Lisa Rowe commented
This is important for clients wanting to wound up companies/trusts asap which is required for certain situations, rather than having to wait until the EOFY or waste time doing a paper return.
Sam Boudiab commented
It is an important matter for Xero to enable preparing and lodging future tax returns for company structures especially when a company is deregistered with ASIC during a time before the end of the financial year. It is necessary as to avoid the burden of lodging a paper return and the time consumed in processing it.
John Lewis commented
This is an important aspect of finalising the tax affairs for a deceased estate. The unnecessary delays caused by paper lodgement make a difficult situation worse. Hopefully this is on Xero's radar
Cherie Parker commented
It seems crazy that we can do future tax returns for individuals, when it is more critical to lodge a company tax return early when you are trying to wind up a company and deregister with ASIC in a timely manner.
Magda Robinson commented
I cant believe that as an accounting firm using Xero that we have to request this function. This is a serious issue and if you are wanting to ensure you are the preferred software then make it happen.
We are now reduced to completing a paper form lodgment for an ASX Listed company.
Adrian Mancini commented
This matter is critical to enabling expedited wind up of a company. The ATO will not accept paper lodgement and require early lodgement by a tax agent using SBR enabled software.
Abbey Avery commented
This feature also needs to become available so deceased estates can be finalised once a death benefit payment is received.
Anna Ronald commented
This would be very useful
James Watt commented
Good idea, it is silly that in this day and age we have to print a paper return still
Vicky Krishnamurthy commented
this will be handy