October 2022
Content Release
Accountant's Content (Content Update 270)
Smart Workpapers
2023 Tax Facts and Figures – main updates include:
- Reviewed and updated Centrelink rates 20 September 2022 to 31 December 2022.
- Updated for current Business Fitness branding
Job Budget and Fixed Price Agreement Smart Workpapers – main updates include:
- Reviewed and updated for the 2022 year.
- Updated for current Business Fitness branding
Fuel Tax Credit template – main updates include:
- Updated for new fuel tax credits rates from 29 September 2022
Rental Property templates 21A & 21B (Personal ITR) – main updates include:
- To correct the rollover function for the Previous Year amounts, the expense label ‘Agent fees/commissions’ has been renamed and re-ordered to it’s previous location ‘Property agent fees/commissions’.
Knowledge Documents
All documents listed have had formatting, links and document profiles updated where relevant. In addition, all merge equivalent templates have also been updated. Document changes noted below where additional changes have been made:
Current Financial Status – Workpapers
- Updated for current Business Fitness branding
ASIC Change to Company Details Flowchart
- Updated hyperlinks
ASIC Company Registration – Information Gathering Form
- Updated for reference to director ID requirements
ASIC Consent to Appointment
- Updated for inclusion of director ID
ASIC Registration of a New Company Flowchart
- Updated hyperlinks
ASIC Responsibilities of a Company Director or Secretary
- Updated for reference to director ID requirements
August 2022
Content Release
Smart Workpapers
2022 Loan Repayment Calculator
- Home – update period start & end dates
2022 Capital Gains Tax Workpapers – main updates include:
- CGT Checklist – update external hyperlinks
- CGT Event and Cost Base – added new notes section
2023 Company Debit Loan Workpapers – main updates include:
- Home – update period start & end dates
- Company Debit Loan Checklist - updated interest rates, included change to sub-trust arrangements, updated external hyperlinks
- Div. 7a Calculator - updated interest rates, deactivated D07 Div 7A Calculator and replaced with G31 Division 7A to remove duplication
- UPE Repayment Calculator – added new notes section, included in general notes change to sub-trust arrangements
- Distributable Surplus – added new notes section
2023 BAS & IAS Workpapers – main updates include:
- Fuel Tax Credits - updated for new fuel tax credit rates from 01 August 2022 to 28 September 2022
Accountant's Content (Content Update 269)
All knowledge documents listed have had formatting, links and document profiles updated where relevant. In addition, all merge equivalent templates have also been updated. Document changes noted below where additional changes have been made:
Cashflow – Workpapers
- updated dates on home page for 2022 year, updated formatting of templates.
Current Financial Status – Workpapers
- updated dates on home page for 2022 year
Valuation of Business – Workpapers
- updated dates on home page for 2022 year
July 2022
Content Release
Smart Workpapers
2022 SMSF Workpapers - main updated include:
- Home - updated period start & end dates
- SMS Compliance Checklist – updated all rates for 2022, updated/included new sections where relevant and updated hyperlinks
- Contributions - updated rates and cell tips for 2022
- Dividends Received – updated for 2022 base rate entity tax rate
- For all templates two new notes sections have been incorporated:
- General Notes – replaces the Display Workpaper Information section. Any links to relevant reference information has been included in this section
- Permanent Notes – includes a feature so that any notes added in this section will be rolled over each year
2022 Tax Facts and Figures – main updates include:
- Home - updated period start & end dates
- Centrelink templates – updated for Centrelink rates 1 July 2022 to 19 September 2022
2023 BAS & IAS Workpapers – main updates include:
- Home - updated period start & end dates
- BAS and IAS Checklist –updated ATO hyperlinks
- Contributions - updated rates and cell tips for 2023
- Luxury Car Tax – updated for 2023 threshold
- Tax Rates – all tax rates updated for 2023
- For all templates two new notes sections have been incorporated:
- General Notes – replaces the Display Workpaper Information section. Any links to relevant reference information has been included in this section
- Permanent Notes – includes a feature so that any notes added in this section will be rolled over each year
2023 Calendar of Key dates - reviewed and updated year and links
All knowledge documents listed have had formatting, links and document profiles updated where relevant. In addition, all merge equivalent templates have also been updated. Document changes noted below where additional changes have been made:
BAS Information Gathering Questionnaire
BAS and IAS Preparation Procedure
June 2022
Content Release
Smart Workpapers
2022 Accounts and Tax Workpapers – main updates include:
- Home Page – update period start & end dates
- Tax Rates – updated all rates for the 2022 year
- All Checklists – updated all rates for 2022 and included/deleted sections where relevant
- Losses - Updated for inclusion of current years
- Prepayments Bills – Template deactivated. Please use Prepayments template.
- Provisions – Long Service Leave – superannuation guarantee rate updated for 2022
- Provisions – Annual Leave – superannuation guarantee rated updated for 2022
- Cashflow Boost – Template deactivated
- For all templates two new notes sections have been incorporated:
- General Notes – replaces the Display Workpaper Information section. Any links to relevant reference information has been included in this section
- Permanent Notes – includes a feature so that any notes added in this section will be rolled over each year
2022 Trust Workpapers – main updates include:
- Home Page – update period start & end dates
2022 Personal ITR Workpapers – main updates include:
- Home Page – update period start & end dates
- Tax Rates – updated all rates for the 2022 year
- All Checklists – updated all rates for 2022 and included/deleted sections where relevant
- Aust Govt Payments - updated list of payment sources
- Capital Gains Worksheet - updated to include granny flat arrangements exemption
- Supplementary Deductions – updated ATO links
Primary Production Workpapers
- Workpaper – has been deactivated
- All Primary Production specific templates have been included for use in Accounts and Tax Workpapers
SMSF Audit Workpapers
- Workpaper – has been deactivated
COVID-19 Workpapers
- Workpaper – has been deactivated
2022 Interim Accounts and Tax Workpapers
- Workpaper – has been deactivated
Accountant's Content (Content Update 265)
All knowledge documents listed below have had formatting, links and document profiles updated where relevant. In addition, all merge equivalent templates have also been updated. Document changes noted below where additional changes have been made:
Accounts & Tax - Year End Questionnaire 2022 - updated for the 2022 year
Personal ITR - Year End Questionnaire 2022 - updated for the 2022 year
Primary Production - Year End Questionnaire 2022 - updated for the 2022 year
SMSF - Year End Questionnaire 2022 - updated for the 2022 year
Personal ITR Procedure - updated for the 2022 year
SMSF - Year End Compliance Procedure - updated for the 2022 year
Accounts and Tax Procedure - How We Do It Here - updated for the 2022 year
Financial Statement Analysis Workpaper – updated for display years tabs
April 2022
Content Release
Smart Workpapers
2022 Interim Accounts & Tax Workpapers – main updates include:
- Tax Rates – updated tax rates for 2022 year including low and middle income tax offset amount, small business income tax offset rate, base rate entity tax rate, medicare levy thresholds, car limit, superannuation rates and FBT rates
- Losses - updated for inclusion of 2020/2021 years
- Tax Reconciliation- minor referencing amendments, remove Cash Boost payment
- Base Rate Entity Passive Income – updated hyperlink for ATO reference
- Livestock – inserted ATO hyperlink reference
- Fixed Assets Depreciation - updated checklists for new depreciation rates and thresholds released throughout the year
- Division 7A – Amend cell references
- Provisions - Long Service Leave - updated superannuation rate, new rate from 1 July 2022
- Provisions - Annual Leave - updated superannuation rate, new rate from 1 July 2022
- Capital Gains Worksheet - updated ATO hyperlink reference
- Dividends - updated franking rate for BRE's
- Dividends - Comprehensive - updated franking rate for BRE's
- Payroll Tax – review all states and updated all calculations for each state for current rates
- Superannuation – removed provision for SGC Amnesty period no longer applicable and updated superannuation rate for 2022
2022 Tax Facts & Figures – main updates include:
- Centrelink Rates - Family Benefits – updated rates for 20 March 2022 to 30 June 2022
- Centrelink Rates - Age Pension – updated rates for 20 March 2022 to 30 June 2022
- Centrelink Rates - Other Benefits – updated rates for 20 March 2022 to 30 June 2022
March 2022
Content Release
Smart Workpapers
2022 Fringe Benefits Tax Workpapers – main updates include:
- Home Page – updated dates
- Tax Rates – updated all rates for the 2022 FBT year
- Checklists – updated what's new for 2022 and included/deleted sections where relevant
- Car Parking Fringe Benefits - updated for total gross income threshold
- Living Away from Home Fringe Benefits – updated Commissioner's reasonable food amount
Accountant's Content (Content Update 265)
All documents listed below have had formatting, links and document profiles updated where relevant. In addition, all equivalent merge templates have also been updated. Document changes noted below where additional changes have been made:
- Fringe Benefits Tax Procedure
- FBT - Employee Contribution Journal Covering Letter
- FBT - Information Gathering Questionnaire Merge Version
- FBT - Information Gathering Questionnaire
- FBT - Meal Entertainment 12 Week Register Election Merge Version
- FBT - Meal Entertainment 12 Week Register Election
February 2022
Content Release
Smart Workpapers
2023 Salary Sacrifice Workpapers – main updates include:
- Home Page – update dates
- Tax Rates – updated all rates for the 2022 year & 2023 where applicable (Specifically increase superannuation contribution rate to 10.5%)
- Checklists – included/deleted sections where relevant
2021 BAS & IAS Workpapers – main updates include:
- Fuel Tax Credits - this template has been updated for new fuel tax credit rates from 03 August and 01 February 2022.
January 2022
Content Release
Smart Workpapers
2022 Tax Planning Workpapers – main updates include:
- Starter file updated to include the following items:
- Tax Rate imports for Individual, Centrelink, Depreciation, etc. updated for 2022 rates.
- Orig. Projected Taxable Income – updated definition of passive income test.
- TP01 Simple Tax Strategies - updated for the 2022 year template.
- TP02 Complex Tax Strategies - updated for the 2022 year template.
- TP04 Checklist - Short - updated for the 2022 year.
- TP05 Comprehensive Checklist - Business Clients - updated for the 2022 year.
- TP05 Comprehensive Checklist - Individual Clients - updated for the 2022 year.
- TP19 Losses - updated for the 2022 year.
- TP20 Division 7A - updated rate for the 2022 year.
- TP21 Borrowing Cost - updated for the 2022 year.
- TP22 Loan Repayment Schedule - updated for the 2022 year.
2021 Tax Facts and Figures - Reviewed and updated Centrelink rates from 1 January 2022
Accountant's Content (Content Update 263)
All documents listed below have had formatting, links and document profiles updated where relevant. In addition, all equivalent merge templates have also been updated. Document changes noted below where additional changes have been made:
2022 Tax Planning Documents
- Tax Planning - Client Newsletter 2022 - updated all rates and information relevant for clients for the 2022 year.
- Tax Planning Procedure