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

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

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,

Hi Team What about other entities? Trusts and individuals?

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.

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

Any update?

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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?

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!

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

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

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....

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.

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

Very critical for different tax periods

Very poor showing on Xero's part not to have future year returns available for all entities when it is a critical part of our work.
For those of us dealing with winding up of entities (particularly deceased estates, trusts being vested, ceased partnerships and for companies prior to liquidation), the lack of ability to lodge a future year return causes absolutely undue frustration, and unnecessary delays.

From Xero's website : https://www.xero.com/au/xero-tax/
"Xero Tax : One solution for all your clients"

I'm afraid this is not accurate, and Xero needs to take things a step further in their development of Xero tax.

When are these changes going to be made please ?

That's not an update but a reiteration of the previous unfortunate position by Xero. I suspect Xero doesn't understand the issue, otherwise it would give it immediate action. I want to emphasize it is not the future tax forms but the current year's that we need, and it is not getting ahead but being able to do what is currently required. I recently needed to prepare a final return for a Deceased Estate in the current year. When Xero couldn't handle it, I arranged a subscription for LodgeIT and completed the return.

The ATO allow the lodgment of future returns for FBT, Company tax returns, Trusts, SMSFs, partnerships.
Why does our accounting software not keep up with legislation?