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Distributing data between tax returns

Sharing data between tax returns makes preparing a tax return even faster by reducing the amount of manual entry and double-handling you do. We'll even create the required schedule for you when you add the IR3 tax return, so you don't need to work out which schedule you need!

In MYOB Practice Tax, you can share data between an IR4, IR6 or IR7 tax return and a shareholder or partner's IR3 tax return, by distributing income.

There are a few things you need to know before you can distribute income:

  • You can only share data between clients of your practice.

  • You can only distribute income to IR3 tax returns in the same tax year as the IR4, IR6 or IR7 return. These tax returns must have a status of In progress.

  • If you're distributing income from an IR6 tax return, you can distribute income for 2021 and later tax years.

  • If you're distributing income from an IR7 tax return, you can distribute income for 2020 and later tax years.

You can distribute to individuals in the IR3.

You can't distribute to other entities, including the IR3NR. You'll need to manually enter the amounts in the receiving return.

The following instructions only apply when distributing to an individual. If you need to distribute to any other entity, enter the amounts in the receiving return by adding a workpaper or schedule, or entering the figures directly into the main return.

Distributing to an IR3

Actions required messages

When you're distributing income, there are a number of Actions required messages you might see.

Action required section highlighted in the Distribute income window