This article provides information on the transactions and data which will flow through to the income items in the trust tax return.

Item 8 - Partnerships and Trusts

Navigate to Fund Level > Transactions > Fund Income > Distribution - Cash/Reinvestment

Any value in below fields will flow to Item 8

• TFN Withheld Amount
• Foreign Withholding Tax

Navigate to Fund Level > Transactions > Fund Income > Distribution - tax statement

Any value in the below fields will flow to Item 8

• Dividends Franked
• Dividends Unfranked
• Franking Credit

Item 9 - Rent

Refer to user guide Processing Rental Income for details on processing

Item 11 - Gross Interest

Navigate to Fund Level > Transactions > Fund Income > Interest Received

Navigate to Fund level > Transactions > Fund Income > Distribution - tax statement

Any value in the below fields will flow to Item 11

• Interest

Item 12 - Dividends

Navigate to Fund Level > Transactions > Fund Income > Dividend - Cash/Reinvestment

Item 14 - Other Australian Income

Navigate to Fund Level > Transactions > Fund Income

Below events will flow to Other Australian Income

• Fee Refund
• General Taxable Income
• Investment Fee Rebate - Cash/Reinvestment
• Sundry

Navigate to Fund Level > Reports > Run Report > Foreign Tax Election

• Realised Forex Gain will show under this section

Navigate to Fund Level > Transactions > Fund Income > Distribution - tax statement

• any value in the Other Income will show under Item 14

Item 21 - Capital Gains

Navigate to Fund Level > Transactions > Fund Income > Distribution - tax statement

Any value in the below fields will flow to Item 21

• Discounted Capital Gain Domestic
• Discounted Capital Gain Foreign
• CGT Concession Amount
• Capital Gains Indexation Method Domestic
• Capital Gains Indexation Method Foreign
• Capital Gains Other Method Domestic
• Capital Gains Other Method Foreign

Navigate to Fund Level > Transactions > Investment - Sell

Any events which incurred Capital Gain or Loss will flow into this item. 

Tip: Use Realised Capital Gain Report for reconciliation

Item 23 - Other Assessable Foreign Source Income

Navigate to Fund level > Transactions > Fund Income > Foreign Income

The below events will flow to Foreign Income

• Foreign Dividend
• Foreign Interest
• Taxable Foreign Income

Navigate to Fund Level > Transactions > Fund Income > Foreign Income

• Any value entered into Australian Franking Credits From NZ Company field

Navigate to Fund Level > Transactions > Fund Income > Distribution - Tax Statement

Any value in below fields will flow to Item 23

• Interest Income
• Modified Passive Income
• Other Assessable Income
• Tax Credits
  
  
  

 

Navigate to Fund level > Transactions > Fund Expense > Foreign Expense

The below events will flow to Foreign Income in a negative value

• Bank Fee
• Deductible Foreign Expense