AU Tax - Xero Tax Trust Estimate For ALL Trust Types
We need a Trust Estimate to be included in Trust tax returns for ALL types of trusts. Xero recently added a trust estimate but it is for Deceased Estates Less Than 3 years only. This is not useful. This type of trust is a very small percentage of the trusts that our firm has.
We need the estimate to be able to calculate -
- Deceased Estates More Than 3 Years
- Discretionary Trusts where there are Foreign Beneficiaries
- Discretionary Trusts where there Minor Beneficiaries
- Discretionary Trusts where there is no beneficiary presently entitled
Jan Donnelly
shared this idea
Hi everyone, we appreciate all the attention and interest this idea has received. This has not gone unnoticed and our product team understand the importance of these estimates for practices.
There is a bit of complexity involved in being able to achieve this, but we'd like you to know this is something our teams are looking into.
As soon as we have any updates we'll be sure to share with you all through this idea. Thanks 🕵️
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Michael Beaver
commented
I just spent the best part of an hour trying to work out what we'd done wrong, not even thinking for a second that Xero didn't actually do this. It would be helpful for it to be implemented, like the competition did a long time ago.
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Gayle Prowse
commented
Xero is years behind in this area.
(Having recently changed over from MYOB) -
Alex Psomas
commented
This is essential. Deceased Estates < 3 years is a start but nowhere near sufficient for a tax software.