2025 tax compliance changes

New build to rent tax incentives to encourage investment and construction, expanding Australia’s housing supply.

New label, Build to rent capital works deduction at 4%:

Company return – Item 7

Partnership and trust returns – Item 9 Rent.

Thin capitalisation rule amendments, with 3 new tests that apply to general class entities.

Changes to the International Dealings Schedule in the company, partnership and trust returns including:

New section H – For Debt Deduction Creation Rules

Addition, removal and update of multiple items in section B, C, D and E to reflect the changes.

The small business energy incentive bonus deductions have ended. Small businesses can receive a 20% bonus deduction on expenditure to improve energy efficiency.

Individual return – Removed item P12 - Small business bonus deductions​.

Company return – Removed item 7J & 7K​.

Partnership return – Removed item 52 - Small business bonus deductions​.

Trust return – Removed item 52 - Small business bonus deductions.

The small business instant asset write-off​ is extended.

The instant asset write-off is updated in all form types when adding a tax depreciation asset in the Assets tab.

Business industry code updates.

We’ve updated the codes in the:​

Individual return – Item P2 ​

Company return – Item 2 ​

Partnership return – Item 1 ​

Trust return – Item 1.

Some capital gains tax exemption and rollover code descriptions have changed.

We’ve updated the codes in the capital gains worksheet in the:​

Company return – Item 7 Label M​

Individual return – Item 18 Label M​

Trust return – Item 21 Label M.

Functional currency code options updates.

Item 8, label O Functional currency:​

Removed:​

SLL Sierra Leone, Leone​

ZWL Zimbabwe, Zimbabwe Dollar​.

Added:​

SLE Sierra Leone, Leone​

ZWG Zimbabwe, Zimbabwe Gold.

Trust type description changes.

Trust income schedule and at item 6E rename:​

S – Discretionary trust - income from service and management activities​

T – Discretionary trust - income is from trading activities​

I – Discretionary trust - income from investment activities​

F – Fixed trust - other than a fixed unit trust or public unit trust described in P, Q or U​

U – Fixed unit trust (including a CCIV sub-fund trust), other than a public unit trust P or Q.

Reportable tax position schedule – Category C changes.

Reportable tax position schedule – Category C question options changed to: ​

Remove question 10​

Add question 46 and 47.

Label F removed in the spouse details section​.

Label F in the spouse section removed.

Non-foreign resident occupation deduction ratio updates.

The Non-resident foreign income schedule has changed:

Updated the deduction median rate for relevant occupation codes

Added or deleted relevant occupation codes

Changed relevant occupation descriptions.

Change from XBRL to XML format for lodging to the ATO.

This change only affects how MYOB sends the data to the ATO behind the scenes.

Partnership name field length increased from 200 to 400.

Item 54 in the Statement of distribution is changed​.

New questions on the front cover.

New questions in the trust return front cover:​

Is the trust a withholding MIT ​

Is the trust a stapled MIT ​

If the trust is a managed investment trust (MIT), specify type.