Early stage investor tax offset (esi) Partnership

Before completing the worksheet and claiming the ESIC tax offset, it's important to read Early stage investor tax offset information on the ATO website.

You'll find the worksheet at item 51: Statement of distribution in the MYOB Quick Access fields box.

To complete the worksheet:

Click in Goto (F2) and enter 51 and Enter, then enter Y and press Enter in the Early stage investor tax offset Quick access field to open the Early stage investor tax offset worksheet esi.

The special box contains entry points to the worksheets for which the ATO has not provided labels in the partnership return.

Example 1: Partnership earns the offset due to investing in the ESIC on behalf of the partners

The Evidence the company qualifies as ESIC obtained question is mandatory for acquisitions in ESICs.
The Sophisticated investor checkbox should only be ticked if at least for one transaction the taxpayer passed the sophisticated investor test. No offset is available if the taxpayer isn't a sophisticated investor.
Enter any excess brought forward from the previous year, adjusted for the effects of net exempt income (foreign and Australian) in accordance with Div 65 of the ITAA 1997.
Click Worksheet and enter the details of the ESIC transactions. The fields are self-explanatory. Press F6 or click OK or the Save icon to accept the transaction and move it to the storage area at the top of the worksheet.
If there are no more transactions, click Close.
At the front entry screen, press F6 or click OK or the Save icon to save the worksheet. We'll filter the amounts through to the special MYOB fields in the distribution statement xP for distribution to the partners in the normal way.
Open the Distribution statement (xP) at item 51 to see the amount included in the special MYOB Tax only ESIC field.
Key the distribution amounts for each partner or close the xP and press F8 or click the Distribute button to perform automatic distribution. If the partners’ individual returns are in your database, then we'll show their amounts at item 13: Distributions from partnerships and trusts.

Example 2: Partnership receives a distribution of ESIC from a trust

The partner received a Statement of distribution from a trust with the following information.

It's not necessary for the taxpayer to be a sophisticated investor when receiving a distribution from a partnership or a trust.

You'll enter these details manually in the Distributions from trusts worksheet (dit) at item 8: Distributions from partnerships and trusts—label R

We've filtered the amount at item 8: label R to the esi worksheet at item 51.

Click Close, then F6 or OK to return to the main form.

We'll distribute the total esi offset to the partners in their respective share in the partnership during F8 distribution.

CCH References

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