Fund return 2018 2018
See the ATO website for:
Data entry
The fund return (Form EF) is presented for data entry on a set of tab cards:
- Section A: SMSF Fund details 2018 2018
- Section B: Income - Item 11 2018 2018
- Section C: Deductions and non-deductible expenses 2018 2018
- Section D: Tax Calculation Statement 2018 2018
- Section E: Losses - Item 14 2018 2018
- Section J: Other Information 2018 2018Section J: Other Information 2018 2018
- Section K: Trustee or Director's Declaration
Processes for the SMSF
When you select F4 a formal Estimate of the SMSF’s tax liability for the current and subsequent year is prepared. You can Preview or Print this estimate.
Additionally, you can prepare a PAYG Income tax Instalment worksheet from Preparation > Schedule > xPF - PAYGI (Instalment estimate) for an audit trail of how we arrived at the result.
If the current year return has been completed you can pre-fill the worksheet with those values. If not lodged or the ATO has not yet issued the first quarterly instalment notice, you can use the values from either of the two immediate prior years. However, you must use the values from most recently lodged of those two prior year returns.
You can also manually key values or alter pre-filled values where that value is editable. This is helpful for calculating What-if scenarios.
Other processes performed include: