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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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  • David Coutts commented  ·   ·  Report

    Cannot like this suggestion enough, particularly for companies being wound up and those with substituted accounting periods.

  • Sussann McKinney commented  ·   ·  Report

    I'd love this!! I've lodged three 2024 ITR already!! Love being able to wind up an estate & do the whole job. Charge the executor & shut the file!! Come on XERO - don't make me keep having to go to another provider PLEASE

  • Vicki Wattus commented  ·   ·  Report

    This would be a nice feature, although we would only use it a few times a year.

  • Aaron Davis commented  ·   ·  Report

    I support this idea. When a non-individual entity has been liquidated and wound up, we want to prepare the tax return as soon as possible rather than await the software update and the end of the financial year.

  • Fay Grant commented  ·   ·  Report

    I agree, we have an urgency to prepare a 2023 return and anxiously waiting for it to be available.

  • Stacey Quinn commented  ·   ·  Report

    Yes please - would be very helpful to assist with winding up companies

  • Jennifer Wain commented  ·   ·  Report

    we need this for our NZ registered companies who need to lodge 31 March returns in Australia.

  • Ronilo Tumakay commented  ·   ·  Report

    Please add this. Big help especially for winding up business early in a financial year.

  • Trent Simonovic commented  ·   ·  Report

    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  ·   ·  Report

    This would make winding up entities so much easier. Especially SMSF's.

  • 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.

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