As the holiday season approaches, we’re excited to bring you a fresh update to make your workflows smoother and more efficient. Here’s what’s new and noteworthy:

🎁 Updates

1️⃣ CGT Worksheet Updates
You can now correctly split the "Less costs incurred" among the owners in the CGT worksheet.

2️⃣ Work Dashboard Export
You can now export your work items to Excel or CSV! Access this feature via the 3-dot menu on your dashboard or visit the Export Page.

3️⃣ Filter for Not Suspended Forms
We’ve added a Not Suspended filter to the work and form dashboards, helping you focus only on active, non-suspended forms. This feature will be available starting 26th December. 

📅 Holiday Support and Schedule

✅ ATO Systems Availability
Great news! The ATO systems will remain operational during the Christmas shutdown period with no planned maintenance.

🕒 LodgeiT Support Team Holiday Schedule
Our Support Team will be taking a festive break from 5 PM AWST on Friday, 20th December 2024, and we’ll be back in full swing on 6th January 2025. While response times may be a little slower, rest assured, we’re still here to help with any urgent concerns. 

From all of us at LodgeiT, we’d like to wish you a Merry Christmas and a Happy New Year! May your holidays be filled with joy, relaxation, and plenty of good cheer.
Thank you for being part of our journey in 2024. We look forward to an exciting year ahead with you!

Warm regards,
The LodgeiT Team

🖨️ Print lodgment receipts

You can now easily print your lodgment receipts! Just click the Print button on the tax return lodgment receipt page to save a hard copy or a digital version for your records.

🔓 Unlock lodged forms

Now you can unlock lodged forms. It can help in cases when you need to relodge the form. You can also set permissions to control who has access to this feature, ensuring secure and managed use. 

You now have the ability to unlock lodged forms, which is particularly useful if you need to relodge a form. Additionally, you can set permissions to control who is able to unlock forms.  

⚠️ End of support for certain ATO forms

Please be informed that that effective immediately, we will no longer support the following ATO forms:

• CTR (2011–2013)
• TRT (2011–2013)
• PS (2011–2017)
• SMSFAR (2012–2013)
• IEE (2010–2020)
• FTER (2011–2020)

This decision is due to the Australian Taxation Office (ATO) deactivating support for these services, meaning they are no longer available for submission.

You can find the list of forms supported by LodgeiT here.

✅ TPAR & TFNR Lodgment Issue Resolved

The issue with TPAR (Taxable Payments Annual Report) and TFNR (Closely Held Trusts TFN Report) lodgment errors has been resolved. 

LodgeiT is now receiving proper responses from the ATO, ensuring that lodgment status is accurately reflected within the system.

You can now lodge TPARs & TFNRs as usual, and the status should update correctly in LodgeiT without errors.

Please note: Do not re-lodge any forms that previously showed errors unless you have confirmed they were not lodged successfully on the ATO portal.

We are pleased to inform you that the issue with TPAR (Taxable Payments Annual Report) and TFNR (Closely Held Trusts TFN Report) lodgment errors has been resolved. 

LodgeiT is now receiving proper responses from the ATO, ensuring that lodgment status is accurately reflected within the system.

You can now lodge TPARs & TFNRs as usual, and the status should update correctly in LodgeiT without errors.

Please note: Do not re-lodge any forms that previously showed errors unless you have confirmed they were not lodged successfully on the ATO portal.

Thank you for your patience and cooperation. If you encounter any further issues, please do not hesitate to reach out to our support team.

We are currently experiencing an issue where the ATO is not returning the proper response for TPAR (Taxable Payments Annual Report) lodgments. This results in lodgment errors being displayed in LodgeiT, despite the lodgments being successfully accepted by the ATO.

What to do if you encounter this error:

• Do not lodge the TPAR again.
• Instead, log in to the ATO portal to check the status of your lodgment.
• If the lodgment is confirmed on the ATO portal, simply mark the form as lodged in LodgeiT.

We appreciate your understanding and are working closely with the ATO to resolve this issue as soon as possible. Thank you for your patience.

We're excited to announce a series of new features and updates designed to enhance your experience and improve the efficiency of your workflows. Here’s what’s new:

🔑 User permissions

• View and edit TFNs. You can now configure user permissions to control who can view and edit Tax File Numbers (TFNs) within your practice, ensuring sensitive information is accessed only by authorized personnel.
• Fetch, view and download ATO EFT reports. Configure user permissions to fetch, view, and download ATO Electronic Funds Transfer (EFT) reports. This feature allows you to manage access to crucial financial data within your practice.

🔗 Copy e-signature link

After sending an e-signature request, you can now copy the signing link for each recipient. This feature is especially useful if you need to share the link through alternative channels, ensuring that your documents are signed quickly and efficiently.

📝 Customize signatories in legal documents

You can now manually add signatories to legal documents and financial reports, offering greater flexibility in managing your documents.

📃 Individual tax return updates

• Depreciation worksheets are now available for Foreign Rental properties (FY 2020 onwards).
• Automatic conversion of foreign currency to AUD in the foreign income section (FY 2020 onwards).
• Automatic calculation of franking credits in the dividends worksheet (FY 2024 onwards).

🔔 Other updates

• Support for 4 decimal places in the Share Register.
• Added Client Code and Mobile fields to e-signature email templates.

We hope these new features and updates help streamline your processes and provide even more value to your work. As always, we’re here to support you, so please reach out if you have any questions or feedback.

The new tax season is coming and we are excited to announce the following updates for you.

Tax Forms 2024

The 2024 tax forms are now available. LodgeiT will automatically create new forms for you in a few days, ensuring that relevant field values are carried forward from your 2023 returns. Check out the ATO's overview of key changes.

Please note that pre-filling data is available for tax returns from 1 July as ATO receives it, with most data being available by the end of July.

Tax Depreciation Report

You can generate and print the tax depreciation report for assets added using the new method directly within the tax return. Simply go to Reports > Tax Depreciation and select a tax return. This feature is currently available only for individuals. 

Loan Agreement Templates

We added 2 new templates for legal documents:

• Loan Agreement - Div7A 7 Years.
• Loan Agreement - Div7A 25 Years.

Create and sign legal documents seamlessly with our new template library in LodgeiT, and efficiently manage tax depreciation by directly adding pools and assets into tax returns.

Legal Documents 🤓

Now you can create and sign legal documents directly in LodgeiT. Choose from our template library or customize your own with ease. LodgeiT will automatically fill in all client details, streamlining your workflow and saving you time.

Our template library includes: Engagement Letter, Company Constitution, Minutes of Meeting of Directors, Trust Distribution for Corporate and Individual Trustees.

Choose the payment option that suits you best: buy a package or pay per document, with e-signatures included. Take advantage of our 30% discount — prices start as low as $1.56 per report when you purchase a package with the discount. For detailed pricing, please visit your billing page. Keep in mind that purchased documents will expire at the end of the subscription period.

Watch our demo video to learn more.

Depreciation on Tax Returns 🚀

We are changing the way you add tax depreciation. You can now add pools and assets directly into the tax return. It is now available for individual income tax returns starting from the 2020 tax year. This new method will soon be available for other types of tax returns as well. 

You can easily migrate pools and assets into the tax return. You will be prompted if you previously used our depreciation tool. LodgeiT will map pools and assets to their appropriate sections on the tax return, eliminating the need for manual entry.

On 1 July 2025, you will no longer be able to run tax depreciation using the old method. It will be used only for accounting depreciation.

QuickBooks ProAdvisor Subscription ✨

We have automated the ProAdvisor subscription activation and renewal process. To activate your subscription, visit the ProAdvisor page in QuickBooks for Accountants. If you previously used a coupon code for activation, please wait until your subscription expires and then click Renew on your billing page in LodgeiT. Next year, your subscription will renew automatically as long as you maintain an active connection to your QuickBooks Online Accountant file.

For any issues, please contact our support team.

🚀 Import FBT from Excel

Utilize our template to import your FBT return directly from Excel. Feel free to enhance the template by incorporating extra sheets for your calculations, streamlining the input process.

💲FBT return price changes

Effective immediately, all FBT lodgments will adopt the pricing structure of Income Tax Returns. For further details, please visit our pricing page.

🛑 TFND form support ends in April 2024

We are discontinuing support for Tax File Number Declaration (TFND) forms as of April 26, 2024. We urge all users to ensure they lodge their TFNDs prior to this date to avoid any inconveniences. For continued access to the TFND form, we advise transitioning to a payroll software solution. We recommend QuickBooks, which includes a comprehensive Payroll system, as an efficient alternative for managing your TFND requirements. Please make arrangements to update your processes accordingly to ensure a smooth transition.

🤖 Tax Genii

Try out Tax Genii, our Ai Tax Research assistant. Experiment with Chat & Browse. Try different data sources - Google & ATO Website. For more information, read our help guide.

🔄 Update existing clients during client import

Now, you have the option to update existing client records when importing clients. Please note, all fields of an existing client will be replaced with the data from the imported file, including fields not presented in the file. Fore more information, read our help guide.

If you have any questions do not hesitate to contact us at support@lodgeit.net.au.

Merry Christmas to all our valued users! 

As the year draws to a close, we're thrilled to present our special Christmas release! Filled with enhancements and new features, we're adding a touch of holiday magic to your experience. 

What's New 

🎁 Cash-Basis Financials: Ho ho ho! Now you can choose the cash basis accounting method when importing financial statements from QuickBooks and Xero.

🎁 Statement of Cash Flows: Unwrap our manual version of the Statement of Cash Flows - Indirect Method, now included in all our financial reports. It's our gift to you for more streamlined financial reporting!

🎁 Not-for-Profit Financials Report (Beta): In the spirit of giving, we've added a financial report template for non-profit organisations. It's available as a paid financial report. Please feel free to contact support@lodgeit.net.au with any feedback you may have on the template. You can find the template here.

🎁 Overseas Levy Section: The Income Tax Return Estimate (2020 onwards) now includes an Overseas Levy section, bringing more clarity to your clients.

🎁 Decimal Quantity in Shares Module: With decimal quantity now available in the Shares module, managing cryptocurrencies is as easy as pie... or should we say, Christmas pudding!

🎁 Enhanced Flexibility in Financial Reports: Manual fields in financial reports can now reference notes, and you can modify client signature text. Tailor your reports like you would a Christmas list!

🎁 More Relationship Types: When adding a new relationship, you can now select multiple types. Ensure everyone is connected this Christmas!

🎁 Prefill on Income Tax Returns: Take more time to enjoy the holidays with prefill options for professional and primary averaging income, as well as annuities on Income Tax Returns.

🎁 Client Age on Quick View: Keep an eye on client details with the age display on Quick View. Just in time for sending those birthday and holiday greetings! 

Wishing you a season filled with joy, peace, and prosperity. Enjoy these updates and may they bring efficiency and cheer to your festive season! 

Hey 👋

We've added the ability to include the Trust Account Consent Authority declaration on Individual Tax Returns. Simply, select the Fee From Refund option on a tax return and if there is a refund, the declaration is added to the printed version for the client to sign.

Please note that this is a pre-build template and cannot be customised.