This page outlines the frequently asked questions in relation to the Trust Tax Return lodgment.
Which financial year of Class Trust Return Lodgment support?
Class supports the Trust Tax Return Lodgment for the 2021 Financial Year and 2022 Financial Year.
How do I get access to Class Trust Lodgment?
If you have a subscription to Class Trust, the Tax lodgment will be available. You can email accountmanagement@class.com.au for information on, or to arrange a subscription, to the Class Trust product.
Is Class Trust Tax Return lodgment free?
Class Trust Tax Return is available for no additional cost if you have activated Class Trust Subscription.
If you currently do not have a Class Trust subscription, you can contact your Account Management or email accountmanagement@class.com.au for further information.
Is there a difference between SMSF Lodgment and Trust Tax Return Lodgment?
The Trust Tax Return lodgment has a new look and feel which includes a number of improvements. The new design has validation within the forms plus automatic reconciliation of the Annual Return and Schedules.
Does the Class Trust Tax Return include all income and expenses?
The Class Trust Tax Return includes all the income and expenses except for Business Income and Deductions. Class recommends only using Class Trust for Investment Trusts.
What roles have access to Class Trust Tax Return and who can lodge Trust Tax Return?
Any user with Fund Administrator, Access Controller or Tax Agent role can read/write access to the Class Trust Tax Return. He can finalize the numbers as well as lodge the return.
Can I transfer a trust tax return to/from APS, MYOB and Xero to/from Class?
We are exploring pathways for the Class Trust Tax Return to integrate with practice management software provided by APS, MYOB, and Xero. We currently do not support this integration. You can provide feedback on this through AHA!
Is it possible to lodge a Trust Tax Return at Business Level under Tax Administration?
No, the lodgment of Trust Tax Return is only supported at the Fund level. As part of Class's product roadmap, in the future this will be available at the Business level in the Tax Administration Console and Tax Lodgment Console.
Will the SMSF Tax Return move to the same look and feel as Class Trust Tax Return?
If you would like Class SMSF lodgment to look the same, you can provide your feedback in AHA!