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For every 2020 tax return you've created in MYOB Practice Tax as of 31 March 2021, we'll automatically create a 2021 tax return for those clients.

These 2021 tax returns will appear in your Compliance list with a status of Not started.

What data will be rolled forward?

When your client's 2021 tax return is created, the following items will already exist, so you don't need to enter it again:

  • IR3NR—country of residence

  • IR526—partner IRD number and partner name

  • IR7—attribution of income/loss settings

What's not rolled forward?

The following tax workpapers/schedules won't roll forward to the new year. Instead, this data can be prepopulated from Inland Revenue, when you add the relevant tax workpaper.

  • Income with tax deducted at source (salary and wages)

  • Interest income

  • Dividend income.

Business income and Rental income tax workpapers also won't be rolled forward, so you'll need to enter this data manually.

2021 tax returns you create manually won't contain any rolled forward data.

Only 2021 tax returns created automatically on 31 March 2021 can contain rolled forward data. A client's 2021 tax return will only be created if they have an existing 2020 tax return on the night of 31 March 2021.

If a client doesn't have a 2020 tax return in MYOB Practice Tax on 31 March 2021, you can still create a 2021 tax return for them using Add new, but their 2020 data won't roll forward.

To roll forward a tax return to a new year

Tax returns can be rolled forward even if they're in progress and haven't been filed.

So if you're still completing your client's tax return for the 2020 year, you might want to hold off rolling forward to 2021 until you've at least completed the rolled forward fields below.

  1. Click the 2021 tax return in the Compliance list to open it.

  2. At the message Ready to start the new period? Click Yes, start.

    This can take up to a few minutes. Once you've rolled forward the tax return, the page will refresh and you'll be re-directed to the Data reconciliation page for the new period.

 
Related topics

Preparing a tax return - NZ

Preparing a tax notice - NZ

Reconciling Inland Revenue data - NZ

Compliance list - NZ

2021 Tax compliance changes



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