Practitioner Edition

11.8.6 Year End Processing: Online Tax Return Lodgement – Completing and Lodging the Return

When your form is populated with imported Mclowd data, click PRELODGE.

The Prelodge button

LodgeIT will now highlight any errors or missing information and allow you to make corrections. In particular, you may find you need to remove zeros from some fields. If you expect a refund, you will need to insert details of the bank account for your Fund. You also need to insert your auditor’s contact information.


Please note there are a small number of fields that are not yet incorporated into the Mclowd file (such as auditor phone number). We are in the process of upgrading the Mclowd database to reflect these data points, but for now you will need to enter these via LodgeIT.

We also plan to tighten the level of integration with LodgeIT into the future, so that the above process can be simplified (such as not requiring separate login to LodgeIT).


When your form is complete, click LODGE to complete the lodgement process.

Lodge tax return

LodgeIT also offers the option to Print your form, Export to PDF, or Save for later completion or modification. LodgeIT will store all forms completed using the system and allows you to quickly and easily revise and re-submit if required.

LodgeIT stores the form in a forms library, marking it’s status. If successfully lodged, the Status column will show ‘’Lodged’. Form can be saved in Draft mode or after Prelodging if you need to interrupt the preparation process and return to completed it later.

Tax form lodged


NOTE:  You can also use LodgeIT to complete your Fund BAS returns and to complete tax returns for other entities you control, as well as for your personal tax returns.


The following videos provide an overview of the lodgement process (from within the LodgeIT environment) for both Mclowd trustees and practitioners:

 

 

NEXT: YEAR END PROCESSING: CONCLUSION

 

 

 


about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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