Taxflow - What's new?

Taxflow - What's new?

7th September 2023 - Taxflow 2022 Version 2.373/ 2023 Version 2.391
Beta released focused on 2023 refinement including improve
  1. Accounting Working papers
    1. Amortisation expense
    2. Distribution costs
    3. Marketing expenses
    4. Impairment losses
    5. Occupancy costs
  2. Trust tax returns
    1. Added trust tax returns content up to description of business activity
  3. Trust tax return checklist
    1. Added procedures upto description of business activities
  4. Added Primary and non primary analysis table to:
    1. Other sales of goods and services
    2. Government industry payments register
    3. Non individual PAYG summary
  5. Implemented tooltip on few worksheets

17th August 2023 - Taxflow 2022 Version 2.373/ 2023 Version 2.383
Beta released focused on 2023 refinement including improvements to
  1. Franking Account
    1. Added Australian franking credits from a New Zealand Company
  2. Dividends received register
    1. Added more option to the Type of distributions
  3. Accounting Working papers
    1. Finalised configuration for Other Income, Restructuring Costs, Appropriations

10th August 2023 - Taxflow 2022 Version 2.373/ 2023 Version 2.381
Beta released focused on 2023 refinement including improvements to
  1. CaseWare Cloud, activated File Lock down dates and Status
  2. Abridged Financial Statements
    1. Linked Income Statement Accounting Working papers
  3. Accounting Working papers
    1. 1 procedure
    2. Analysis linked
      1. Manual configuration required for Other Income, Restructuring Costs, Appropriations
  4. Removed folder numbers from the document manager

27th July 2023 - Taxflow 2022/ 2023 Version 2.370
Beta released focused on 2023 refinement including improvements through diagnostics and warnings
  1. Removed duplicate balance for Research and Development Profit (Loss) rebate income from
    1. Tax Reconciliation Statement
    2. Simple Tax Working Sheet
  2. Implemented diagnostics and warnings
    1. Loss Carry Back Working Paper
    2. Losses Working Paper
    3. Franking Account
  3. Refundable and non-refundable tax offsets (2023 Content)
    1. Added reconciliation between Tax Reconciliation Statement and Company Tax Return
  4. Calculation corrections
    1. Loss Carry Back Working Paper
  5. Income Statement Working Paper
    1. Add 2nd prior year for Unrealised foreign exchange gains(losses)
  6. Changed Services to Non Trading
    1. Abridged Financial Statements
    2. Special Purpose Financial Statement
  7. Added pick list for country code in 
    1. Company Information checklist
  8. Updated some descriptions in the 
    1. Provision for Current Tax Liability
  9. Known issue
    1. Refundable and non-refundable tax offsets in the Simple Tax Working Sheet pulling in value for the incorrect line of the Tax reconciliation Statement

20th July 2023 - Taxflow 2022 Version 2.366
Beta released focused on enabling Accounting Working papers and creating the 2023 Tax returns Template
  1. Defined Accounting Working Papers Structure
    1. Finalize configuration on Analysis
  2. Start with 2023 Content on 2022-23 Beta Tax Returns
    1. Adding / Refine
      1. Small business skills and training boost
      2. Small business technology investment boost
    2. in the below
      1. Tax reconciliation
      2. Simple Tax Working Paper
      3. Less Working Paper
      4. Tax returns
  3. Added new rows and Column to Loss Carry Back Working paper
  4. Updated with 2023 changes and included PY column (2022 and 2023)
    1. Refundable and non-refundable tax offsets (2023 Content)
    2. 31H Eligible Credits

6th July 2023 - Taxflow 2022 Version 2.362
Beta released focused on terminology and calculation refinement and creation of Financial statement lead schedules
  1. Added Research and Development Profit (Loss) rebate income
    1. Tax reconciliation statement
    2. Simple tax Worksheet
    3. Adds and Less
  2. Updated Eligible Credits treatment in
    1. Tax reconciliation statement
    2. Simple tax Worksheet
  3. Updated Terminology in various statements
  4. Defined Accounting Working Papers Structure
    1. Created Checklists activated Analysis applied visibility setting
    2. Linked all Abridged Statements
29th June 2023 - Taxflow 2022 Version 2.357
Beta released focused on terminology plus 1 additional working paper
  1. Added Bad Debts to
    1. Tax reconciliation statement
    2. Simple tax Worksheet
    3. Income Statement Worksheet
    4. Less Working paper
  2. Refined the terminology in
    1. Provision for Current tax 
    2. Franking Account
  3. Created a 2023 Template
    1. Currently contains 2022 content
    2. 2023 content still WIP

22th June 2023 - Taxflow 2022 Version 2.355
Beta released focused on improvement to the first Beta version
  1. Update
    1. Updated terminology for
      1. Franking Account
      2. Provision for current tax liability
    2. Added new phase Accounting Working Paper with placeholders  (Requires new file creation to test)
  2. Correction 
    1. Tax Journal Undefined Differences calculation
    2. Less, condition for Superannuation
  3. Company Information checklist (Requires new file creation to test)
    1. Updated Financial Statement procedure and related subprocedures

15th June 2023 - Taxflow 2022 Version 2.354
Beta released focused on improvement to the first Beta version
  1. Updated
    1. OPT1 Company Information Checklist
      1. Embedded Bank Details form into Checklist
      2. Updated procedure responses to:
        1. Stock
        2. Aggregated turnover range
        3. Loans to shareholders and their associates
        4. Salary and wage expenses
    2. Company Tax Return Income Statement
      1. to present tax based balances for:
        1. Gross distribution from partnerships
        2. Gross distribution from trusts
      2. reconciliation back to Financial Statement profit before tax
    3. Accounting profit (loss) per the financial statements based on above changes
      1. 7 Tax reconciliation statement
      2. 7TN Simple Tax Worksheet with
    4. Superannuation provisions added to:
      1. 7 Tax reconciliation statement
      2. 7TN Simple Tax Worksheet with
    5. Tax Working Paper - Income Statement 
      1. Updated Superannuation, added late payments
    6. 6IH Dividends received register
      1. Made some cells overwritable
    7. 7TV Tax - Working Papers - Franking Account
      1. Updated date referencing and signage
    8. 7TO Tax - Working Paper - Provision for Current Tax Liability
      1. Updated date referencing and signage
  2. Apply visibility settings to:
    1. NAT73345 International dealings schedule
    2. NAT74066 Reportable tax position (RTP)
    3. NAT74066-CF Reportable tax position (RTP) schedule
  1. Create Expense checklist and related query




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