This article provides information on the events and data which will flow through to the expense items in the trust tax return.
Item 9X - Rent - Capital Works Deductions (CWD)
Navigate to Fund Level > Investment > Depreciation Worksheet
- Any CWD shown on Property Depreciation Worksheet will flow into this field
Item 9H - Rent - Other Rental Deductions
Refer to user guide Processing Rental Income for details on processing
Item 16P - Deductions relating to: Australian Investment Income
Navigate to Fund Level > Transactions > Fund Expense > General Investment Expense
Below events will flow into item 16P
- Bank Overdraft Interest
- General Expenses
- Valuation Fee
Navigate to Fund Level > Transactions > Fund Expense > Bank Fee
Item 16R -Deductions relating to: Franked Distribution
Navigate to Fund Level > Transactions > Fund Income > Dividend - Cash/Reinvestment
- Any value entered into LIC Deduction will flow into this field
Item 18 - Other Deductions
Navigate to Fund Level > Transactions > Fund expense
Below events will flow into Item 18
- Accountancy Fee
- Adviser Fee
- Fund Administration Fee
- Bank Interest Paid
- Legal Fee
- Regulatory Fee
- Trustee Fee
Navigate to Fund Level > Transactions > Fund Expense > Fund General Expense
Below events will flow into Item 18
- Financial Plan - Review
- General Expense
- general interest charges
- Insurance Premium
- Investment Management Fee
- Management Expense (Non-Investment)
- Penalty Interest Paid
- Management Expenses (Non-Investment)
- Postage Printing and Stationery
- Sundry
- Tax Agent Fee
Navigate to Fund Level > Transactions > Fund Expense > Fund Investment Expense
- Interest on Deposit Paid
- Interest on Late Settlement Paid
- Travel
Navigate to Fund Level > Transactions > Instalment Warrant > Instalment Warrant Completion
- Any value in Deductible Interest will flow into Item 18
Item 25 - Tax Losses Deducted
Use the Tax Accounting Reconciliation (Trust) report to reconcile the Tax loss.