July 2024 Australia

Release schedule

Classic Corporate and Forms: 4 July

NextGen Corporate and Forms: 4 July

ONESOURCE Content — NextGen Corporate — Release Notes V1.2

Updates

Workpaper	Description
Small business energy incentive	The small business energy incentive will be deployed by the ATO on July 3rd, upgrade is required. Forms impacted: Company tax return Partnership tax return Trust tax return Attribution managed investment trust (AMIT) Corporate collective investment vehicle (CCIV)
T4 - Deferred tax movement recognised (Company Tax only)	Other non-financial items section - updated closing DTA/DTL indicator formula.
T6A – Tax accounting reconciliation (Consolidated Company Tax only)	The prior period under/over formula for deferred tax has been updated to resolve circular reference error.
T9X - Tax account summary - under/over (Company Tax only)	Manual entry under/over is now available.
T7X - Current period movement - under/over (Consolidated Company Tax only)	Manual entry under/over is now available.
CB8 – Fixed assets import – tax (Company Tax only)	The decline in value of in-house software now allows for import.
RG – International dealing schedule	Update to Efiling for Question 32b, previously “No” selection was causing EFiling to fail.
RG – International dealings schedule	Removal of redundant columns to improve performance.
RO – Consolidated Group losses schedule	Update to EFiling for Part C Questions 2 and 3 labels.
RU – Trust Income Schedule	The ATO has announced an upcoming change as currently lodgement is prevented for Trust tax returns by CCIV – Sub Funds Trust and Managed Investment Trusts. We have made changes in preparation of this change being released by the ATO on July 25th.

ONESOURCE Content — Classic Corporate — Release Notes V1.3

Updates

Workpaper	Description
R4 – Trust – p4 – Q7-12	Updates to calculation validation for question 9.
R98 – IDS – p16 – Q33-35	Updates to EFiling as ATO expects an amount when zero or nothing entered in question 35a.
RU – Trust Income Schedule	The ATO has announced an upcoming change as currently lodgement is prevented for Trust tax returns by CCIV – Sub Funds Trust and Managed Investment Trusts. We have made changes in preparation of this change being released by the ATO on July 25th.
TTR1 – Beneficiary details	Removed redundant EFiling tag.
Small business energy incentive	The small business energy incentive will be deployed by the ATO on July 3rd, update will be required to ensure lodgement on these labels. Forms impacted: Company tax return Partnership tax return Trust tax return Attribution managed investment trust (AMIT) Corporate collective investment vehicle (CCIV)

This article applies to:

Product: ONESOURCE Corporate Tax