Settings and activity
7 results found
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17 votes
An error occurred while saving the comment 
Niraj Bastola
supported this idea
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12 votesNiraj Bastola
supported this idea
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52 votes
Hi everyone thanks for sharing this idea, and letting us know the changes that matter most for you. Currently they are available at the start of the following income tax year. We've reviewed your idea and now it's up to the community to get behind and support it. You can share this with your friends and colleagues who also want to see this feature. We will continue monitoring this space for traction.
Niraj Bastola
supported this idea
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155 votes
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 🕵️
An error occurred while saving the comment Niraj Bastola
commented
Agreed. This is crucial function.
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38 votes
An error occurred while saving the comment Niraj Bastola
commented
you should be able to allocate depreciation against partnership income at 13Y and also we should be able to print unliked depreciation schedule.
Niraj Bastola
supported this idea
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58 votes
An error occurred while saving the comment Niraj Bastola
commented
looks like there is an unliked schedule available now however we couldn't print it with tax return.
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340 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
An error occurred while saving the comment Niraj Bastola
commented
This is a basic function to have.
Add Capital Works Worksheet to SMSF Tax – Deductions
Problem
In the SMSF tax return, the Capital Works (Division 43) deduction does not include a worksheet. While users can manually enter a total amount, there is no built‑in worksheet to calculate or track the capital works deduction.
This creates a gap in functionality, as accountants must maintain a separate external worksheet to calculate capital works depreciation and then manually transfer the result into Xero.
Why this matters
Capital works deductions are very common and material for SMSFs that hold property. Without an integrated worksheet:
Calculations are more time‑consuming
There is a higher risk of errors or inconsistencies
Review, audit, and year‑to‑year comparison is harder
Documentation is kept outside Xero, reducing data integrity and efficiency
A capital works worksheet is just as important as other depreciation schedules for SMSFs investing in real property.
Suggested improvement
Please add a Capital Works (Division 43) depreciation worksheet within the Deductions section of the SMSF tax return, similar to other tax calculation worksheets.
Ideally, the worksheet would allow users to:
Enter construction cost and dates
Automatically calculate deductible amounts
Track opening balance, additions, deductions, and closing balance
Carry forward balances year‑to‑year
Benefit
This enhancement would significantly improve accuracy, efficiency, and compliance for SMSF accountants and advisers, especially for funds holding property.