Individual tax return

https://help.myob.com/wiki/x/aYDYAw

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This feature is available if you're in the Early Access Program (EAP).

You can move an individual tax return from MYOB AE/AO to MYOB Practice.

Key points

From 2020 onwards, you can roll over a simple individual tax return (without a ledger attached) in MYOB Practice.
You'll see an Assets tab when the individual tax return opens in MYOB Practice but the data from Assets won't integrate into the return.
If you use tax tracking in your practice, you cannot migrate Individual, SMSF, and Fund tax returns. You can still migrate company, trusts, and partnership returns.

Prerequisites

You can only move 2020 tax returns online.
Make sure the 2019 tax return:
- has a status of In progress or Lodged
- has a tax contact and tax agent present in the Return properties.
there is no ledger configured in the Client accounting tab in MYOB AE/AO.

Creating the return

You need to rollover the return from MYOB AE/AO to create the individual tax return in MYOB Practice

Creating a tax return within MYOB Practice is coming soon!

What data rolls over from AE/AO?

When migrating a tax return from AE/AO into MYOB Practice, we roll over a number of fields to reduce your data entry time.

TFN

Name

Date of birth

Home address

Postal address

Tax agent details

Contact name

Phone numbers (daytime phone & mobile) and email address

EFT bank details

Occupation

Tax offset and veteran code

To create a 2020 return

Log in to AE/AO.
Go to the Tax returns tab.

Follow the steps for the product you use:

Accountants Enterprise (AE)	Click Create return under the Tasks bar on the left. In the Create tax return window, select 2020 in Tax return year and Return type as Individual. Click Create and follow through with the rollover steps. A 2020 return with a Not started status is created in the Tax returns tab. Close the 2020 return.
Accountants Office (AO)	Click to open the 2020 tax return. Make sure it has a status of Not started. Follow the rollover steps that appear.

Go back to the Tax returns tab and click to open the 2020 tax return.
In the Move end of year compliance online window, click Yes! Move online.
Make sure the Simple view No ledger is selected and click Continue. The migration process starts

Only the Simple view option is available now. The Full view option is coming soon!
Click Launch online after the migration is complete.
The Individual tax return opens in MYOB Practice.

Data entry

You can:

enter data into some of the fields on the Tax return page. Use the navigation options on the right of the Tax return page to jump straight to the section you want to view or update.
use the ATO lodgable schedules to enter values in a label. These schedules are lodged with the tax return.
use Tax workpapers to enter values in a label. These are specific to each tax return type are not lodged with the tax return

From 2020, the ATO has introduced a mandatory Income Details schedule (INCDTLS) to report income details in an Individual tax return. This means you can only use this schedule to enter income into most items. You can no longer enter the amounts directly in the labels.

The ATO pre-fill is available for 2020 individual tax return. See Pre-fill data from ATO report (Individual returns)

To open the Income details schedule

In the panel on the right of the page, in the Add schedule or workpaper drop-down, type Income details schedule or select Income details schedule from the list.
Enter the details in the labels you want to complete.

Review, complete, and lodge

Once you've entered the data in the tax return, follow the workflow to review, complete and lodge the tax return.

Completing a tax return

Validation

Individual returns now have an MYOB in-house validation check. This saves time as this process is much quicker than the ATO's validation and can be performed even if the ATO systems are busy or down.

Sending a tax return for client review

Printing and generating an estimate

Lodging a tax return