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