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The flow through of CGT info from the Trust Schedule to Item 21 is something we need for efficiency. I recently changed from HandiTax to Xero Tax. It flows through in Handitax, so this is a disappointment for me that Xero doesn't already have this functionality in place.

If capital gains have been distributed in a family trust distributions, the data doesn't feed into item 18. You can't select the 'create CGT worksheets…' option like you can for managed funds. Instead you have to create new CGT worksheet & manually enter the CGT information

What's the point of even having the capital gain sections in the Trust Income Schedule if it is not going to flow through to Item 21???? The idea of having the schedule is so you can enter the data from a trust or managed fund taxation statement in one spot to ensure all data is captured and entered to the correct fields in the tax return... if it is not going anywhere, why have it there???? All items entered to the Trust Income Schedule need to flow through to the appropriate section of the TRT.

I completely support the creation of integration from the schedule to the main body of the Return. Improvement in the space would streamline processes and avoid double processing. Xero is so clever in using the one file for XPM, it would be great if the same tools were applied to tax so that schedules fed info through to avoid duplication and potential keying errors.

I am completing a company tax return for 2024. I realised that the capital gain didn't flow from the trust income schedule to the primary return either. I also need to enter the franking credits manually. It's inefficient to enter data twice. Can Xero please improve the trust income schedule so all information can automatically flow to the correct session?

MYOB tax had the trust income schedule set up many years ago and had no problem with making the data flow through. Can Xero please catch up with its major competitor?

Thank you very much in advance.

to flow from the Trust Return(TRT) to Individual Returns(ITR) - is a basic expectation

In addition we are looking to why in a CRT (Company Return) the trust income schedule has details for CGT which feeds no where - so putting it in CGT schedule will at least ensure that it is reflected correctly BUT the trust schedule will need to be blank even though incorrect otherwise client may think it is a duplication

Like with Individual Tax Returns where you have the ability to create a worksheet from the Trust Income Schedules (often multiple and time consuming) this should be the same for the TRT. If the tech is there for the individual it shouldn't be hard to sort it for the TRT.

I have very many clients with Investment Discretionary Trusts that need this.

Xero, until the capital gain from a Trust distribution flows to item 21 automatically, please put a warning in the Trust Income Schedule!

Kelly said it was delivered in this previous Product Idea but it wasn't: https://productideas.xero.com/forums/940636-for-accountants-bookkeepers/suggestions/45728917-xero-tax-au-distribution-from-managed-funds-wo#{toggle_previous_statuses}

And it would be good to have an update from Xero Tax (AU) staff on this???

Oh finally I have found confirmation that this is affecting others. I don't understand why foreign income flows through and capital gains don't???
Surely if this can work in an individual return it can work in a trust return as well.