Managed Funds
Enter the full name by which an organization is known, managed fund reference number and the number of account holders.
Note: If there are 2 or more account holders enter the total amounts in the 'Total' column and the 'Your Share' column will automatically populate with the amounts. If this is not the correct amount in the 'Your Share' column you will need to manually overwrite the amounts. Do not complete the 'Your share' column where there is only 1 account holder.
Managed Fund Distribution
Enter the amounts in the Total column of your managed fund distribution.
Managed Fund Distribution will automatically transfer to item 13 on your tax return.
Trust distribution action code is also a mandatory requirement for trust distributions.
Foreign Income
The foreign income amounts will automatically transfer to item 20 on the tax return.
If you have an amount at Assessable foreign income, you must also enter the amount at either Other foreign income, Net foreign rent or Aust credits from NZ franking company.
If you have entered an amount in foreign income tax offset, you will need to complete the tax offset section in the foreign income worksheet: Foreign Income worksheet HandiTax.
Caution: If you have entered an amount at Assessable foreign income you must also enter the amount in at Other foreign income, Net foreign rent or Aust credits from NZ franking company. If there is an amount at Assessable foreign income only this will not be included in your taxable income for the client.
Capital Gains
Capital gains will not automatically transfer to item 18 on the tax return. You will need to complete the CGT schedule.
If you have capital losses, you will need to apply the losses in the CGT schedule.
To transfer the capital gain amount from the managed funds worksheet answer Y in the CGT schedule.
Application of Capital Losses
Input the order number (i.e. 1, 2, 3 etc.) to offset available losses against each capital gain and ensure to apply the losses to the Other (Non-Discounted) and Discounted amounts of Capital Gain in the order required.
Enter the amount to offset or leave Blank and click Save to calculate automatically.
Other
Other income - transfers to item 24
Early stage venture capital limited partnership - transfers to Item T7
Early stage investor – transfers to Item T8
Other refundable tax offsets – transfers to Item T10
