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Individual tax return

Key points

  • Tick

    From 2020 onwards, you can roll over a simple individual tax return in MYOB Practice. Just make sure the previous year's tax return has a tax contact and tax agent present in the Return properties.

  • Tick

    You'll see an Assets tab when the individual tax return opens in MYOB Practice. You can  

    import depreciation assets into Assets online but the data from Assets won't integrate into the return.

Entering data into a tax return

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

  • TFN (If you need to change it, you must do it AE/AO)

  • Name

  • Date of Birth

  • Home address

  • Postal address (choose betwee Tax agent or client)

  • Contact name

  • Phone numbers (daytime phone & mobile) and email address

  • EFT bank details

  • Occupation

  • Tax offset and veteran code

  • Tax agent details.

Front cover postal address

This feature is available only for tax returns that are created after 12 December 2023.
For any existing returns, you'll need to manually enter the address.

  • For the ATO communications, you can choose to send it either to the tax agent or client's address. Select Tax agent or client at the Which postal address would you prefer to use? question.

  • The Client address is integrated from AE?AO to the front cover of the tax return.

  • The Tax agent is integrated from Settings > ATO settings > select the Agent.

Electronic funds transfer (EFT) details

  • Choose the bank account details for the Tax agent or client for refunds.

    • The Client address is integrated from AE?AO to the front cover of the tax return.

    • The Tax agent is integrated from Settings > ATO settings > select the Agent.

General data entry

  • Use the navigation options on the left of the Tax return page to jump straight to the section you want to enter data into some fields.

  • If a label is greyed out, it means that you need to use a schedule or a workpaper to enter data into that label. To make it easier you can select the Related schedule/workpapers link located next to the tax return item. This will open the schedule or workpaper you need in order to complete the label.

  • 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.

To open the schedules and workpapers

  1. In the panel on the right of the page, in the Add schedule or workpaper drop-down, type the name of the schedule you wantor select the schedule or workpaper from the list.

  2. Enter the details in the labels you want to complete.

Completing the tax return

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

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