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AU Tax - Trust tax returns | Foreign income should flow through to ITR and CTRs

Currently, only some distribution amounts flow automatically from a Trust tax return to the Individual and Company beneficiary returns, and others have to be manually entered. There is also no clear area to enter these items into the individual and company returns.
This leaves room for error and causes efficiency and quality issues.
Our previous system handled this very well. It had a specific schedule for this type of distribution income.

All distributed amounts, including capital gains and foreign income should be auto transferred to the correct labels into the beneficiary tax returns.

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Xero Ideas at GT shared this idea  ·   ·  Report…  ·  Admin →
delivered  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hiya everyone, we have just released changes for 2024 tax returns. As part of this we're pleased to share that for the Trust Income Schedule foreign income and Capital Gains Tax events will now distribute from the trust return into non-individual tax returns. 🎉

Thank you for all sharing and engaging with us in the idea, here. 

Show previous admin responses (3)
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  • Michael Axton commented  ·   ·  Report

    Another Xero issue, how many times are we going to miss this flowing through to the individual, come on Xero pick up your game

  • Frank Ma commented  ·   ·  Report

    The two labels don't help fixing the issue described above. I am coming across this problem, the distribution from family trust to two individuals. In the first beneficiary's return, I deleted relationship and added back , only non-CGT income pops up, manually typed in CGT schedule for capital gain distribution, the same in second beneficiary's return.
    and the two new labels are little confusing. when I typed in 100% Capital gain in Capital Gain label and typed discounted net capital gain in the new label Discounted capital gains (Net). the secondary beneficiary's available capital gain becomes nil. I had to type discounted gain in both Capital Gain and Discounted capital gains (Net) label. I don't think distribution work sheet picked up correct label from Capital Gain Schedule & Capital Gain Worksheet ( I also tried this, did not work)