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8 votes
Hi Dylan, the team have looked into your idea here and the behaviour you're describing isn't expected and does appear to be more of an issue than idea.
If possible could you please raise a case with our team of specialists at Support and we can take a deeper dive into this with you to work out what's going on. Thanks!
Steven Podlich
supported this idea
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42 votesSteven Podlich
supported this idea
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An error occurred while saving the comment -
130 votes
Hi everyone, we appreciate how auto calculating Medicare Levy Surcharge (MLS) exempt days would help save time and reduce errors.
While our product team has reviewed this idea, and it's something we have intentions to solve in the long terms this is not roadmapped at this time.
This is something we'll continue to assess as we plan for the future of Xero tax so I'll share as soon as there are any updates on this, here. Thanks
An error occurred while saving the comment Steven Podlich
commented
Xero tax, Incorrect Medicare Levy Surcharge Estimate calculation when didn't have spouse for full year. Please correct this. 2023-2024. I have a situation where my client was single for part of the year, and then moved in with his defacto spouse for the remainder of the financial year. The husband's income was more than the $93,000 threshold, but their combined income was less than the family threshold of $186,000. Neither have private health insurance hospital cover. This means, the husband is charged MLS for the period that he was single.
Even though I entered that the client was not liable for MLS for 266 days, at M2, Xero Tax still calculates as if the husband does not have to pay any MLS. The ATO's calculation of my client's refund is correct. It has come back as less than Xero's tax estimate.
https://www.ato.gov.au/individuals-and-families/medicare-and-private-health-insurance/medicare-levy-surcharge/paying-the-medicare-levy-surcharge -
335 votes
Hi everyone, we'd like to share an update that this idea is back on the teams roadmap as they begin to look into this work again.
Atm, we can't set any timeframes but will stay close to share the latest news around this with you all on this idea. Thanks
Steven Podlich
supported this idea
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I agree. The only method of livestock valuation available in Xero tax, seems to be Average Cost. Could we please also have to option to use the 2 other allowable methods: Replacement Cost and Market Value.
https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/primary-producers/livestock-and-other-assets/valuing-livestock