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The Australian Tax Roadmap: Partnership tax return

Posted 3 years ago in Advisors by Laura Cardinal
Posted by Laura Cardinal

This will be the last tax release for the year and we’re really pleased to tick off another item from Australian Tax Roadmap.  This release means we’ve delivered 4 key forms this year; Individual, Company, Trust and now Partnership returns.

Partnership Tax Return

Partnership tax returns 2014 can now be completed and filed from tax in Xero Practice Manager.

As with the individual and trust tax returns that are available now, sharing is taken care of for you when you’ve setup the partner relationships in the client, helping you to save time and eliminate re-keying shared data.

Find out more in our Practice Studio Help Centre

How can you get Australian Tax?

As with other tax releases, you’ll need Xero Practice Manager to take advantage of these new features. Practice Manager and tax comes with Practice Studio which is available for a monthly fee, or if you’re a Xero Silver Partner (or above), for free.

What’s next?

There’s plenty to look forward to next year and the team are working on some customer reporting field updates, summary printing options for the individual tax return, as well as interposed entity election and family trust election for the company, partnership and trust returns. Stay tuned for information on releases as we continue to ship all the forms and features needed for you to assess our tax product and transition across for tax time 2015.

 

5 comments

Anthony Wardley
December 11, 2014 at 4.02 pm

Thanks Xero. Setting a cracking pace on getting these tax forms out, and also fixing bugs. Very impressive.

Ben Greene
December 16, 2014 at 11.07 am

Wow! Cool. Will that mean I can lodge returns for sole traders, pships, companies and trusts? What about SMSF? Is that coming?

Tim Wright in reply to Ben Greene Xero
December 18, 2014 at 3.09 pm

@ Anthony, Thanks!
@Ben, Yes! You can lodge the 2014 returns for those clients now. SMSF return is on the plan as well and we’ll blog as soon as it’s available.

Michelle Gargar
December 16, 2014 at 1.05 pm

Keep it coming. Would love to know what the advisory group is giving you via feedback. Is there anyway to get some visibility on what they are talking about

James Solomons
December 23, 2014 at 8.04 pm

@Michelle The Xero Partner Advisory council (XPAC) is providing feedback as well as other accountants from within the Xero team. If you’d like to know more, please let me know directly, james.solomons@xero.com. Cheers JS

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