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Xero Tax (AU) - Distribution from Managed Funds worksheet for TRT

Many our trust clients have investments in managed funds, e.g. Macquarie Wrap, etc. Unlike ITR, currently there is no "Distributions from Managed Funds" worksheet in TRT. This means, we need to enter Capital Gains and Foreign Income in the separate sections from "Distributions from Partnership/Trust" worksheet. It would be great if all components from Managed Funds distributions can be entered into one worksheet.

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Amanda Zhang shared this idea  ·   ·  Report…  ·  Admin →
delivered  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hiya everyone, this is now possible with the introduction of the Trust Income Schedule that's been made available through Xero Tax in Australia! 

You'll find if a trust or beneficiary relationship has been set up in the client’s screen, these distributions save automatically from the trust return into the receiving return’s Trust Income Schedule - Read more on our changes through Xero Central. 

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  • Kaisha Gleeson commented  ·   ·  Report

    This should be available for all tax return types not just individual.

  • Dan Ward commented  ·   ·  Report

    Critical function, get at it Xero !

  • Michael Axton commented  ·   ·  Report

    Accountant for over 30 years, every other software I have used has this option, behind the times!!!

  • Vicki Carlisle commented  ·   ·  Report

    This listing says @Ethan M has responded but I can't see the response, can we have an update please?

  • Cindy Cheng commented  ·   ·  Report

    This is also the same issue for companies that have investments in managed funds. Quite cumbersome having to enter the different components from Annual Tax Statement in separate areas/labels of the tax return manually. Would be so much more efficient & time saving if the "Distribution from Managed Funds" worksheet is available.

    From memory, I understand that due to Bamford's case, we have to manually enter capital gains distributed from another trust (which is correctly setup in MYOB AE Tax). Xero software team please improve!