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Viewing the terminal income tax assessment details

The Assessment details window displays details about assessed Income Tax returns and allows you to reconcile your records with the IRD Assessment.

The information displayed includes:

Information displayed
Amounts as filled by you
  • Taxable income

  • Tax thereon

  • Tax credits 

  • Beneficiary tax

  • Calculated RIT

  • Assessed RIT.

Amounts assessed by the IRD
  • Taxable income

  • Tax thereon

  • Tax credits 

  • Beneficiary tax

  • variances between the amounts.

When updating the status of an income tax assessment to Accepted, this window will open and you will have to update the Assessed amounts to zero the variances. This will then update the amount in the Tax Manager assessment transaction to match.

To view the Assessment details of an accepted income tax assessment

On the Tax Manager Summary view, right click an accepted income tax assessment and select Assessment details from the menu.

To accept the terminal income tax assessment

When you accept a terminal Income Tax assessment on the Summary view, if there is a variance in the figures, the Assessment details will be displayed so you can balance your figures against the IRD assessment.

You will not be able to accept the assessment until the variances are zero.

  1. Adjust the amounts in the Assessed column fields (Taxable income, Tax thereon, Tax credits and Beneficiary tax) until the variance between the Calculated RIT and Assessed RIT in the Assessed column is zero. The OK button will be activated.
  2. Click the OK button. You changes are saved, the assessment is accepted and the amount in your Tax Manager assessment transaction (in the Transactions view) is updated to match the IRD assessment.
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