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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 →
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under review  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hiya team, we understand the importance of being able to get ahead and create future tax forms in Xero. While work for this isn't underway just yet, we have plans to develop Company Tax Returns(CTR) for the future over the next 12 months. We know there are some in the idea here very much interested in Trust Tax Returns(TRT), however these will be further out, after CTR's.

We'll keep you updated on any progress of this in the idea here. Thanks

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  • Jeff Zivin commented  ·   ·  Report

    It will make the winding up of a client's affairs more efficient. Especially for SMSF

  • Joanne Chubb commented  ·   ·  Report

    Very important to be able to finalise a wound up entities affairs in a timely fashion

  • Lisa Rowe commented  ·   ·  Report

    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  ·   ·  Report

    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  ·   ·  Report

    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  ·   ·  Report

    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  ·   ·  Report

    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  ·   ·  Report

    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  ·   ·  Report

    This feature also needs to become available so deceased estates can be finalised once a death benefit payment is received.

  • James Watt commented  ·   ·  Report

    Good idea, it is silly that in this day and age we have to print a paper return still

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