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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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submitted  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi everyone, I'm very pleased to share that we've just released the ability to lodge future year Company Tax returns(CTR) through Xero Tax in Australia!

We know there are a few other forms that have been mentioned through this idea and will leave it open for further updates, however CTR's we're the highest ask on the list for majority of our Partners.

We want to say a big thank you to you all who've supported this and been involved in the journey of it's development.

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  • Belinda Dodds commented  ·   ·  Report

    I'm not sure how useful this product ideas page actually is. Do the developers actually read it? This particular issue was raised back in 2022 and there is still no action on this. There's also not much point sending emails to people that have previously commented on a product idea to let them know someone else supports the idea. This is preaching to the converted. Hopefully the developers actually get notified every time another person comments on an idea. Otherwise, what is the point?

  • Belinda Dodds commented  ·   ·  Report

    Future year tax returns being available for all entity types would assist in lodging returns for companies that are to be deregistered, deceased estates and partnerships that are finalised before the end of a financial year, etc. I saw an enquiry on the ATO community page about someone who had lodged a future year tax return for a company through their SBR-enabled software (which appears to be the only way the ATO will accept a future year return for a company). So it is possible. Xero please make this available in the next update. I can't understand why this has only been made available for individual ITRs. Catch up Xero.

  • Jeremy Baxter commented  ·   ·  Report

    Not having this feature making winding up companies and SMSF's much harder

  • Faisal Abbas commented  ·   ·  Report

    Yes, it is quicker compared to manual submission, especially when the company needs to wind up.

  • Jess Bird commented  ·   ·  Report

    When winding up a company or a trust, a tax return needs to be created as part of the process. Without the ability to create a tax return, it makes the process difficult.

  • Tamara Michelle'i commented  ·   ·  Report

    This is a critical matter when preparing CTR for wound up companies that require early lodgement for finalisation.

  • Peter Cox commented  ·   ·  Report

    Deceased estates requires earlier trust returns. It gives us more expediency in finalising a deceased estate.

  • Vito Cannizzaro commented  ·   ·  Report

    It will allow us to finalise the Companies and Trust immediately instead of having to wait until the new financial year to lodge the FINAL Tax return.

  • Jamieson Chan commented  ·   ·  Report

    This will allow us to shut down companies and trust immediately, instead of having to wait until the end financial year to lodge the final tax return and shut down the company/trust.

  • Chantelle Rossiter commented  ·   ·  Report

    Completing an "early lodging" tax return is a common occurrence for multiple entity types - winding up entities, deceased estates - so this feature should be made available urgently.

  • Karen Walmsley commented  ·   ·  Report

    The ability to settle a deceased estate before the end of a financial year is critical.

  • Ojdana Skovrlj commented  ·   ·  Report

    This would be very handy Xero please enable this feature for other entity types.

  • Marcia Harris commented  ·   ·  Report

    I would like to be able to do future returns for entitles other than individuals as well.

  • Marcia Harris commented  ·   ·  Report

    I would to be able to do a future returns for entities other than individuals as well.

  • Suzanne Murray commented  ·   ·  Report

    Yes I would like this feature specifically for trust and also good for company wind ups.

  • Emily Kumar commented  ·   ·  Report

    Please look into this Xero, would be very helpful

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