Release notes for Onvio Tax (AU)

Resolved Issues

• IITR 2019/2020: Fixed Assets error when migrating assets to Onvio from Software Assist (Depreciation rollover) is now fixed
  
• Printing Issues:
  • Tax Depreciation Report is no longer printing when there is no data
  • Client’s full name now printing on the Tax Estimate header for IITR
  • Tax Estimate no longer showing “Other Details” section when there is no data
• Client Migration: Fixed to include new address property
• Client Tax EFT details is now fixed to save details after editing.

Updates for 2020 tax year

This release includes the following changes for 2020 tax preparation.

• 2020 Tax forms: The Individual, Company, Partnership, Trust, SMSF and stand-alone forms - Closely Held Trust, Family Trust Election or Revocation and Interposed Entity Election are now available for preparation and lodgment for the 2020 tax year.
• 2020 Tax time changes:
  • Fixed Assets – Depreciation: COVID19 Stimulus measures: Increasing the instant asset write-off to $150,000 and accelerated depreciation as part of backing business investment. More information can be found here.
  • TRT and PTR 2020 – Stapled Structures: New item and corresponding labels to report Non-concessional Managed Investment Trust Income (NCMI). More information can be found here.
  • All forms – CGT: A validation warning has been added when the Main resident exemption is claimed by a non-resident. More information can be found here.
  • IITR 2020 – Calculation and interface changes have been made to reflect a leap year (Number of days is 366).
• IITR 2020 – Granular data reporting: Implemented for the income section of the Individual Income Tax Return. Multiple Income worksheets have been modified to capture the additional information. required by ATO. The following worksheets have major changes.
  • Income item 1 – Salary and wages worksheet
  • Income Item 10 – Interest and Dividends: Optional country field has been added for non-resident only
  • Income Item 13 – Distributions from Trust and Partnership
  • Income Item 20 – Foreign income worksheet
  • Income Item 24 – Other income worksheet
  • A residency starts and end date has been added for part year residents

  More details on ATO granular data reporting can be found here.

• ATO pre-fill: ATO pre-fill has been updated to follow the 2020 ATO specifications.

Fund Income Tax Return (FITR)

A new entity type and a tax return type has been added for the Fund Income Tax Return 2020. Users may now lodge the Fund Income Tax Return for Tax Time 2020. More information on how to create a tax return can be found here.

Onvio Tax News

Tax Resources tab has been added in Onvio Tax News with:

• Clickable links to relevant tax updates for 2020.
• Clickable button opens desktop tax rates & tables as a pdf in your browser.

Resolved Issues

• IITR 2019/2020:
  • Salary and Occupation code for Administration Assistant has been corrected to 531111.
  • Private Health Insurance rebate calculation in the worksheet has been corrected and is now reflecting the correct Australian government rebate on the main form.
  • Client migration from Software Assistant to Onvio is fixed to accommodate an address property.
• SMSF 2019/2020: Capital Gains with discount method (50% reduction) has been corrected.

Resolved Issues

• IITR 2019:
  • Item 13 worksheet defaulting code of P has been removed
  • Item D10 Type=N getting unexpected validation error is fixed
  • Properties tab is fixed to show “More” button to access other menu buttons when browser window is resized to small
  • Refresh issue on excess PHI rebate is fixed
• PTR 2019:
  • IDS validation error appearing when Item 45 is set to No and IDS is not completed has been fixed
• FTER 2019:
  • Validation error has been updated to add more details on compulsory fields. Non-resident period fields is also fixed to be non-compulsory
  • Corrected ‘interposed entity’ wordings in the FTE form
• SMSF 2019:
  • Corrected the CGT discount to 33.3%
• IITR 2018:
  • Missing Low Income Tax Offset in Tax Estimate has been added
• Client Migration from Software Assist to Onvio:
  • Fixed to accept ‘&’ in Company name
  • Enhanced to allow migrating client details without tax returns

Resolved Issues

• BAS:
  • Validation error when Item 5A has decimals has been added on backend
  • Form Type D, GST Option 1 or 2 on G1 field having $0 from prefill is now mapped to G1
  • Prefill $0 value in 6A has been restricted calculation to only Form C, G, J, V, Y
• IITR 2019:
  • Validation error for Income Type 13U value S now showing actual error code instead of variable
  • Income 13 Partnership and Trusts > Share of franking credits from franked dividends has been increased to accept maximum 8 digits
  • Occupation Code for Nurse is removed from Non-Resident Foreign Income schedule
  • Prefill D10 value with cents is now rounded off field does not accept cents
• TRT 2019: Depreciation Report no longer showing blank when General Small Business Pool has data

Lodgment Status for NITRs

The ATO lodgment status is now available for your lodged non-individual tax returns via the Assessment tab. Learn how.

Retrieval of Notice of Assessment (NOA)

The retrieval of NOA is now automatically updated in Onvio. On-demand option still available for users. Learn how.

Resolved Issues

• Activity Statements:
  • ATO Rejection due to missing G1 value has been fixed.
  • ATO Rejection due to PAYG fields with $0 value has been fixed.
  • Simple BAS issue on fields with $0 value has been fixed.
  • IITR 2019: Item 11 Franked Dividends amount greater than $100,000 not saving and calculating has been fixed.
• IITR 2019: Item 13 NPP prefill data not importing to the correct field has been fixed.
• IITR 2019: Prefill issue when $0 getting imported to Item 24 causing validation error has been fixed.
• PTR 2019: Fixed Asset General Small Business Pool amount not loading into business worksheet has been fixed.
• CTR 2019: Capital gains not calculating when there are multiple items in worksheet has been fixed
• CTR 2019: Total Deductions in Form C Declaration does not include Item 7X has been fixed.

Fringe Benefit Tax Return 2020 (FBT)

FBT 2020 can now be prepared and lodged in Onvio from April 1, 2020. Learn how.

eSignature

eSignature for IITR 2019 onwards has been extended to allow selection of signatory among contacts. Learn how.

eSignature for single signatory has been extended to the following entities for 2019 onwards.

• Company Tax Returns
• Partnership Tax Returns
• Self Managed Super Fund Annual Tax Returns
• Trust Tax Returns
• Activity Statements
• Stand-alone forms
  • Interposed Entity Election
  • Family Trust Election, Revocation or Variation
  • Closely Held Trust

Income Tax Client Report (ITCRPT)

The ITCRPT report can now be requested and viewed from within Onvio. Learn how.

Onvio News

Thomson Reuters has now made it easier to access relevant tax news, as part of our Onvio Tax software. A News Feed widget is now available on the Homepage for all Onvio users to keep you up-to-date with the news that affects your business and clients. In addition, from the News Feed, in one click you can select to Share and Save to read later.

Resolved Issues

• Fixed exception error affecting CURNN for Tax 2018. CURNN is now available for Tax Year 2018 onwards.
• Validation error messages now showing when Validate button is clicked for all entities.
• Activity Statement Issues:
  • EFT Code is now expanded to accommodate more than 12 digits.
  • Form P: Annual GST form is now correctly printing.
  • For any AS Form type having GST and PAYG Option, if zero is either prefilled or entered by user in the Statement tab, zero will also be sent on the payload to ATO.
• TRT 2019:
  • The Area code on the Cover page is now restricted to 2 digits.
  • The blank rental schedule incorrectly being included in the lodgment file has been fixed.
• IITR 2019:
  • Validation error ATO.IITR.730325 has been updated to display the English Business Rule rather than “Invalid XBRL schema.”
  • The Depreciation Report now includes updates from Fixed Assets (D5, P8 and Rental schedule).

Resolved issues

• Client Update (CU) services: the correct Software ID is now getting passed to Client update request.
• Client Update Relationship (CUREL) for Individuals: “Invalid Entity Name” validation error has been resolved.
• Activity Statement (BAS/IAS): Exception error during printing is now fixed.
• Activity Statement (BAS): Calculation & validation issues when there is a value of zero in GST option or PAYG option fields has been fixed.
• Fixed Asset: Disposal date field now allows future date for a previous year tax return.
• Tax Depreciation is now printing the Depreciation worksheet instead of entire tax return.
• CHTWTHHLD: Document now getting saved in Documents using “Send To Documents”.
• Lodgment issues due to Machine to Machine (M2M) credential change have been resolved.
• IITR 2018 lodgment and BAS/IITR Prefill issues that were due to the new ATO Machine to Machine authentication service has now been fixed.

Machine to Machine authentication (M2M)

Onvio has been updated to be fully compatible with the new Machine to Machine authentication solution from ATO. This replaces the Device AUSkey credential in the software.

Client Update Services

A number of new services have been enabled which allow you to re-use the data entered in your CRM to interact with the ATO from directly within Onvio.

• Client Update Return Not Necessary (CURNN): You can now notify the ATO when you rclient is not required to lodge a return for the current or future years. Learn how.
• Client Update Relationship (CUREL): You can now establish a new Tax Agent / Client relationship or remove and existing one.
• Client Update Address (CUADDR): Your client's home/postal/business address can now be updated from Onvio to ATO, and vice-versa. Learn how.
• Client Update Financial Institution (CUFI): Your client’s financial institution can now be updated from Onvio to ATO, and vice versa. Learn how.

Retrieval of Notice of Assessment (NOA)

The Original Notice of Assessment can now be retrieved for Individual Income Tax Returns 2019. Learn how.

Resolved issues

• Fixed Asset: depreciation calculation is fixed to deduct the private usage amount.
• Navigation IITR: Hitting on any Multi unit was directing to CGT Schedule is now fixed.
• CTR 2019: Printing issues was fixed.

Client Update Return Not Necessary (CURNN)

ATO can now be notified that a return is not necessary to lodge for current year (and future years) for your client. Learn how.

Interpose Entity Election (IEE)

Standalone IEE form lodgment is now available in Onvio. Learn how.

Family Trust Election, Revocation (FTER)

Standalone FTER form lodgment is now available in Onvio. Learn how.

Resolved issues

• IITR 2019: blank tax depreciation reports but data is available in Fixed Assets is now fixed for clients created in 2018.
• IITR 2019: Error 500 on Fixed Assets for clients created in 2018 is now fixed.
• IITR 2019: Amount from CGTS schedule no longer disappears on exit from this schedule.
• TRT 2019: Validation error on statement of distribution is not to net trust income due to rounding issue has been fixed.
• TRT 2019: Validation error on mandatory IDS schedule fields when IDS is not required has been fixed.
• TRT 2019: Calculation issues on Share of Income (non-PP income) when franked distributions from trust has an amount for both scenarios when there is a beneficiary and there is no beneficiary has been rectified.

Closely Held Trust reporting (CHTWTHHLD)

CHTWTHHLD – subtype of Trust tax return is now implemented to lodge the following items.

• TFN withholding
• Annual trustee payment report

For details, see Create a tax return project template.

eSignature

Tax Agents can now send Individual tax returns 2019 and declarations to clients for review and approval (or decline) via eSignature. For details, see Sending tax returns for approval via eSignature.

Resolved issues

• IITR 2019: fixed refreshing of rounding amount in IT6.
• IITR 2019: Date of birth field populated from prefill can now be edited.
• Broken link in Document icon under Onvio Tax is now fixed.

Simpler BAS changes - Activity Statements

A Simpler BAS tick box has been implemented on the cover page of the Onvio Activity statement and this restricts the users to only complete G1 - Total sales and 1A - GST on sales fields.

Tax return printing changes

The Print menu within the tax return has been updated to include the following items.

• Tax return (Tax return summary print)
• Depreciation report
• Invoice

Print Collations and Print Profiles have been introduced to make the tax return printing simpler when collate multiple reports together. Learn how.

Medicare Levy calculation - Super lump sum payments

The low-rate cap amount of $205,000 is now applied to the calculation of Medicare levy, when there is a taxable component of super lump sum payment for a taxpayer who has reached the preservation age.

Tax Depreciation Report enhancement

The Tax Depreciation Report has been updated to separate capital allowance and capital works deduction.

Resolved issues

• IITR 2019 Item T5: Calculation of net medical expenses for disability aids, attendant care or aged care has been corrected when the refund amount is more than the amount of the medical expense
• IITR 2019: Added the missing amount for total tax offsets in Part A: Electronic lodgment declaration
• IITR 2019: Actual validation error is now generated rather than exception error when validating data in the following schedules: Rental, Capital Gain, PSI, NRFI, Amend or Other schedule
• IITR 2019: D2 Work-related travel expense category has been corrected to “Tolls”
• CTR 2019 Fixed Asset: Written-off and Prime-cost depreciation amount is now getting transferred to Item 7F.

Self-managed superannuation fund annual return (SMSFAR)

SMSFAR entity type for tax return is now available for lodging for Tax Year 2019.

Multiple lodgment of tax returns

New feature for lodging multiple tax returns with “Ready to Lodge” tax return status at once is now ready. Learn how.

Print Profile/Collation

New feature for defining the print collations documents for printing as well as changing the order of documents is now available. You can save it as default or create another profile which have different print collation set up. Learn how.

Resolved issues

• Fixed Assets: written-off assets now automatically calculate 100% depreciation rate
• FHSS Tax Withheld (Item 24S) has now been added to the live tax estimate calculation and tax estimate printout.
• Depreciation: manual entry on main form is now enabled. User have now the option to enter details either via Fixed Asset or directly on the main form.

First Home Super Saver scheme (FHSS) Tax Offset

FHSS tax offset (30% of FHSS withdrawal amount in Item 24R) has now been added to the Tax Estimate summary and the audit trail calculation for IITR 2019.

Activity Statements (BAS/IAS) Prefill XML

The BAS/IAS Prefill XML from the ATO is now being saved in the Documents section to allow for faster investigation of prefill issues by our support team. If you have a prefill related query, please attach this document to the email you send support.

Activity Statements 2019 (BAS/IAS) bug fixes:

• Address line 2 and the State field are now showing in the printouts
• 1A/1B amount in the Statement tab no longer gets wiped out for Option 3
• BAS Form A now includes PAYGW fields
• BAS Prefill: 5A is now mapping and calculating when T9 or T7 amount is available
• Tax estimate and Statement Summary is now generating and printing

Other issues resolved:

• Cover Letter 2018/2019: Tax Year and refund amount now in correct format
• IITR/CTR 2019: Blank Capital gains worksheet no longer in printout
• IITR 2019: Incorrect validation error IT6Y Net rental property loss is fixed
• IITR 2019: Excess private health Insurance rebate calculation has been corrected
• IITR 2019: Blank taxable income

BAS Project Name

When creating a new Activity Statement, the project name will now automatically be appended with the statement period details.

Medicare Levy IITR 2018/2019 issue fixed

An issue in Medicare levy calculation in ITR 2018 and 2019 impacting tax payer with spouse for the full year is now fixed.

Summary Tax Printout

An issue where blank pages were incorrectly being printed in the summary tax return for all entity types has been resolved.

Updates for 2019 tax year

This release includes the following changes for 2019 tax preparation.

• 2019 tax forms: The Individual Income, Company, Partnership, and Trust tax returns are now available for preparation and lodgment.
• New category in Item 24 Other Income: The existing Category 3 has been moved to Category 4 and a new Category 3 has been added as per the ATO Specs for Individual Income Tax Return for 2019.
• Interface updates: The worksheets for items D7 and D8 have been updated to allow for multiple deductions. Also, D5 has been extended from single entry to a worksheet for multiple item entry.
• ATO pre-fill: ATO pre-fill has been updated to follow the 2019 ATO specifications.

Generate Next button

Beginning with 2018 to 2019, you can now roll over returns from one year to the next via the Generate Next button.

Summary Tax Return Print

A new summary print format for the 2019 Trust tax return and Partnership Tax return has been implemented. This format improves the look and feel of the summary print by eliminating unnecessary blank space that was previously included in the printout.

Progress visual feedback

Icons to indicate running process for Pre-fill, depreciation roll-over, and data sharing have been added.

Allocating Franking Credits

An option to set the franking distribution tax rate to 30%, 27.5% or a manually entered value for Franking Credits is now available in the Dividends worksheets for all entities. By default, the rate is set to 30%.

Postal Address Type within the client

The address field in the client details screen now includes a "Postal Address" type option. When this option is selected, the postal address entered will flow directly to the postal address field in all tax returns.

Activity Statements (BAS/IAS)

A new Onvio application is now available for the preparation and lodgment of Activity statements. An automatic pre-fill function has been built into the workflow so that the first time an Activity statement is opened, the Document Identification Number and the client's pre-fill data will be automatically populated on the return.

Staff needing access to the Activity Statements application will need their administrator to provide access via the permissions groups setup. Once permissions have been set, staff can access the Activity Statement application via the menu button.

Invoice within tax

Ability to generate an invoice directly within Onvio Tax has been added.

• The invoice data can be entered in the invoice tab within the tax return project properties
• The invoice printing can be done under the Print menu

Updated summary tax return print format

A new summary print format for the 2018 Individual tax return and Company tax return has been implemented. This format improves the look and feel of the summary print by eliminating unnecessary blank space that was previously included in the printout.

Subsequent pre-fill of Individual tax return

It is now possible to pre-fill an Individual Tax Return multiple times without overwriting any manually-entered data. Subsequent pre-fills will now only override the previously pre-filled amount from ATO.

Resolved issues

The following issues have been resolved.

• The small entity tax rate of 27.5% is now being calculated correctly on the Company Return 2018.
• The date format and amount alignment in the Tax Depreciation Report has been corrected.
• The client reference number on the tax agent declaration page is now correctly showing the client ID instead of the client name.

Subsequent ATO pre-fill import enhanced

The subsequent import of ATO pre-fill only overwrites the previously imported worksheets. Worksheets that were manually entered by the user will not be overwritten by the pre-fill.

Resolved validation error

The validation error on rental loss amount mismatch in Individual tax return Item 21 and IT6 has been resolved.

Tax depreciation report available

The tax depreciation report is available from the Print menu within a tax return. This report prints a detailed list of all depreciating assets that has been entered at each item of the tax return.

Number of account holders and investors in Interest and Dividends worksheets

The number of account holders and the investors columns are being defaulted to 1 for the both the interest and dividends worksheets. This is designed to make the data entry experience easier for users by eliminating unnecessary keystrokes as this is the most common entry.

Tabbing through fields enhanced

The tabbing experience in all tax returns has been enhanced to make data entry quicker and easier.

Rental schedule rounding corrected

The rounding issues in the rental schedule when the data is shared between two owners have been resolved and the related validation issues are no longer generated.

Resolved validation errors

Incorrectly generated validation errors have been resolved for following instances.

• When superannuation lump sum payment untaxed amount is zero
• Loss schedule validation regarding incorrect ABN