Australia/New Zealand

June 2026 Australia - Corporate and Forms post upgrade review

This document summarises the calculation changes that will apply after the upgrade. Use it together with the Release Notes, which provide full details of all changes included in the release.
Required action:
 Review this document and the Release Notes carefully, then complete any follow-up actions that apply.

AU Company Tax and Consolidated Company Tax

Workpaper
Detail
Preliminary information {S1}
Due to the introduction of Yes/No/Blank values in non-mandatory fields, the following questions will need to be reviewed and reselected:
  • Small business entity?
  • Base rate entity?
  • Significant global entity?
  • Country-by-country reporting entity?
  • Consolidated head company?
  • Consolidated subsidiary member?
Statement of taxable income {A} – Thin capitalisation updates
Due to Thin Capitalisation updates, a new section has been added to Statement of taxable income. Previously entered data must be re-entered manually or sourced from the Thin capitalisation – general {A30} and FRT disallowed amounts {A32} workpapers:
  • 7W – Thin capitalisation – Fixed Ratio Test debt deductions disallowed
  • 7X – Thin capitalisation – Prior-year FRT disallowed amounts claimed in the current period
Thin capitalisation – general {A30}
Section updated: the calculated amounts for Entity debt deductions and Entity interest income now directly reflect the tax adjustment amounts.
Thin Capitalisation and International dealings schedule {RG}
Due to the Thin Capitalisation updates, please see the Thin Capitalisation Guide. If you have the Thin capitalisation worksheets inserted prior to release and the calculation has been populated the calculation will retain the pre upgraded information.
Thin Capitalisation and International dealings schedule {RG}
If Thin Capitalisation workpapers were inserted and then removed after the upgrade, some cells in the International Dealings Schedule may show errors. You will need to manually clear the contents of those cells.
Project pools - mining and transport {NI1}
Project pools - non-mining {NI2}
Tax - tangible - other {CB2}
Tax - tangible - mining and exploration {CB3}
Due to changes for Project pool disposal treatment
  • Project pool deductions are now disclosed at 7H Deduction for project pool instead of 7X Other deductible expenses
Income statement {D}
Due to updates to tax return labels, the following line items will change data flow:
  • Leases – depreciation/amortisation (ROU): 6S → 6X
  • Leases – interest expense – other: 6S → 6V
  • Leases – interest expense – related parties: 6S → 6V
  • Leases – interest income – other: 6G → 6F
  • Leases – interest income – related parties: 6G → 6F
Company Tax Return {RA}
The following questions will require review and potential reselection:
  • Question 7 G - Did you have a CGT event during the year?
  • Question 7 M – Have you applied an exemption or rollover code
  • Question 8 - Trading stock election
Company Tax Return {RA} Statement of taxable income {A}
Question 7 Label S – Tax losses transferred in (from or to a foreign bank branch or a PE of a foreign financial entity) must be re-entered in the manual cell in Statement of taxable income {A}.
International dealings schedule {RG2}
The following questions will require review and potential reselection:
  • Question 20 Label A, if previously was Yes, will need to reapply.
Losses Schedule {RJ}
The following questions will require review and potential reselection:
  • Question 4 K - Do current year loss provisions apply?
  • Part C Label L - Has the changeover time occurred in relation to the company after 1.00pm on 11 November 1999?
  • Part C Label M - At the changeover time did the company satisfy the maximum net asset value test under section 152-15 of ITAA 1997?
  • Part C Label N - If you printed X in the No box at M, has the company determined it had an unrealised net loss at the changeover time?
Capital gains tax schedule {RK}
The following questions will require review and potential reselection:
  • Question 7 A - Are you a party to an earnout arrangement?
Consolidated Group Losses schedule {RO}
Due to changes regarding the introduction of Yes/No/Blanks in non-mandatory fields the following questions will require reselection:
  • Question 11 - The apportionment rules field now has a formula that only displays Yes/No when Question 4 or 9 is completed.
Reportable tax position schedule {RP}
Because of updates to this schedule, run
Tools – Sort b
efore e-filing.

AU Manual forms

Workpaper
Detail
Changes noticed to check
In trust mode, Losses Part C Label L may need to remain blank rather than
Yes/No/Blank
.
Preliminary information {S1}
The following questions will require review and potential reselection:
  • Small business entity?
  • Base rate entity?
  • Significant global entity?
  • Country-by-country reporting entity?
  • Consolidated head company?
  • Consolidated subsidiary member?
Company Tax Return {RA}
The following questions will require review and potential reselection:
  • Question 7 G - Did you have a CGT event during the year?
  • Question 7 M – Have you applied an exemption or rollover code
  • Question 8 - Trading stock election
Trust Tax Return {RB}
The following questions will require review and potential reselection:
  • Managed investments trusts – Is the trust a withholding MIT?
  • Managed investments trusts - Is the trust a stapled MIT?
  • Question 21 G - Did you have a CGT event during the year?
  • Question 21 M - Have you applied an exemption or rollover code?
  • Question 48 – Trading stock election
  • Question 50 C - Have you self-assessed the effective life of any of these assets?
  • Question 50 D - Did you recalculate the effective life for any of your assets this income year?
Trust – statement of distribution {RB1}
Due to the redesign of this workpaper from a column-based layout to a row-based layout, it will not upgrade. Re-entry is required through Target-based import remapping or manual entry.
Partnership Tax Return {RE}
The following questions will require review and potential reselection:
  • Question 29 O - Were the thin capitalisation or debt deduction creation rules applicable to you?
  • Question 30 C - Did you satisfy the results test in respect of any individual?
  • Question 30 D - Do you hold a personal services business (PSB) determined in respect of any individual?
  • Question 47 - Trading stock election?
  • Question 49 C - Have you recalculated the effective life for any of your assets this income year?
  • Question 49 D - Did you recalculate the effective life for any of your assets this income year?
Fund Tax Return {RF}
The following questions will require review and potential reselection:
  • Question 10 G - "Did you have a CGT event during the year?"
  • Question 10 M – Have you applied an exemption or rollover code?
  • Question 18 A - Actuary certificate for exempt current pension income? (s.295-385 or 295-390)
International dealings schedule {RG2}
The following questions will require review and potential reselection:
  • Question 20 Label A, if previously was Yes, will need to reapply.
Losses Schedule {RJ}
The following questions will require review and potential reselection:
  • Question 4 K - Do current year loss provisions apply?
  • Part C Label L - Has the changeover time occurred in relation to the company after 1.00pm on 11 November 1999?
  • Part C Label M - At the changeover time did the company satisfy the maximum net asset value test under section 152-15 of ITAA 1997?
  • Part C Label N - If you printed X in the No box at M, has the company determined it had an unrealised net loss at the changeover time?
Capital gains tax schedule {RK}
The following questions will require review and potential reselection:
  • Question 7 A - Are you a party to an earnout arrangement?
Consolidated Group Losses schedule {RO}
The following questions will require review and potential reselection:
  • Question 11 - The apportionment rules field now has a formula that only displays Yes/No when Question 4 or 9 is completed.
Reportable tax position schedule {RP}
Because of updates to this schedule, run
Tools – Sort
 before e-filing.

This article applies to:

  • Product: ONESOURCE Corporate Tax