This support note applies to:
AO Tax (AU)
AE Tax Series 6 & 8 (AU)
AE Tax (AU)
In MYOB Tax, if you have losses in a prior year tax return, these values automatically roll over into the current year's return, on the assumption you selected to roll over schedules when you roll over the return.
If there were no losses in the prior year, or the return has not been rolled over from a previous year's return, create a new Capital Gains Worksheet, select the Category and then type 0 in the Item number field.
Open the tax return, from the Preparation menu, select Schedule.
Highlight the Description Capital Gains Worksheet and then click Select.
Click New. The Add/Edit Capital Gains Item window appears.
Click the ellipses [...] button on the Category field. The Select Category window appears.
Highlight the category and then click Select. The Add/Edit Capital Gains Item window appears with the code of the category appearing in the Category field.
Type 0 in the Item number field and then press ENTER. PRIOR YEAR LOSS appears in the Description field and the cursor flashes in the Amount field.
Type the prior year loss amount and then press ENTER. The amount appears in the Amount field and the Gain/Loss is updated.
If the total loss brought forward comprises amounts from previous income years then these may be recorded as a Prior Year Capital Loss dissection. To record the prior year losses, click the PY Losses button. If there is no need to do this, go to step 10. The Prior Year Capital Loss dissection window appears.
Type the prior year losses value and then click OK. The Add/Edit Capital Gains Item window appears.
Click OK. The worksheet is completed and a new blank worksheet appears.