AU tax - Split husband and wife interest income
It would be wonderful if we could transfer interest, dividends, annual trust distribution information, and capital gains between a husband and wife (or partners etc) when the accounts are held 50/50 or 1/3 25% etc without having to re-enter the schedule into the other party's tax return.
Link the partners together like it does with a rental schedule.
Amy Bates
shared this idea
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Sam Liu
commented
How come Xero tax can't do dividends split between husband and wife? it waste our time to do the same job twice.
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Donna Murphy (practice)
commented
With large inter-related taxpayers, this has been one of the most used features of Myob tax by our practice for over twenty years. This reduces the processing time and also the opportunity of error rekeying data multiple times.
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Jacqui Turner
commented
Agreed, it's such a waste of time entering information twice. MYOB Tax allows sharing of this data between spouses, it should be a simple thing to implement.