Issue
How to lodge the winding up fund in the middle of the financial year? The Tax Return form generated from Class indicates it is for the previous Financial Year.
Explanation
Normally, the SMSF Annual Return template will not be available until June. In order to meet the reporting requirement for a wind up fund. Use a paper form for lodgment.
Resolution
- Once the period update has been run to the End Date, the Finalise Tax button will show up.
- Click on Finalise Tax button, Class will generate the tax return using the previous Financial Year's tax return form.
- Use the numbers on the return generated by Class to fill in the paper form.
- Cross out the Financial Year and re-place it with the current financial year.
- Post the form to the ATO