An online lodgement facility is available (Pro and Premium users) via our Partner LodgeIT for all years from 2017/18.
- Our year end process for all years will show “Download Tax File for LodgeIT” as an Action, but you cannot use LodgeIT to lodge for any years prior to 2017/18.
- You need to setup an account with Lodge IT
Once your year-end processing is fully completed and you have rolled the GL and closed the year, you can download the tax file also known as the SMSFAR Extract (which contains the financial data you need to complete your Fund tax return).
This article explains how to download the tax data extract for subsequent import into Lodge IT.
Choose Periods from the Menu and then choose Financial Years
You will then see the Financial Years screen.
For the relevant financial year, choose Download tax file for Lodge IT from the drop down list under Actions
The following page will be displayed.
You will now see the LodgeIT Tax Data Extract screen. If you have entered your Fund Auditor and Bank accounts for Tax Refunds on the Fund Setup then these details will display on this screen. If you have not entered the auditor and bank accounts for tax refunds on the Fund Setup screen then you will need to enter them on this screen.
On this screen, you must enter:
- Enter the Date Audit was completed (if this has not happened yet, please enter today’s date)
- Any incomplete information like Auditor and bank accounts
Depending on what information is entered in your Fund Setup screen, Mclowd may need further information.
If not entered in Fund Setup, Mclowd will need to enter your Auditor information. You can enter the auditor’s name, company name or ABN to activate a search. Start typing, and Mclowd will drop down a selection list. When you make a selection, Mclowd will fill in the name, auditor number, and any address and telephone details the software can access. In most cases the suburb, state and postcode will be there. You may need to include the postal address and contact number.
You may also need to enter or select your Electronic Funds Transfer (EFT) account and the account to which any tax refund should be paid.
You can select from the drop-down list, but if the preferred account is not registered in your Mclowd bank accounts, you can enter account details manually. Selecting to enter manually will open Account Name, BSB and Account Number fields.
When you have filled the form, choose DOWNLOAD TAX DATA EXTRACT.
The XML file should appear in the Downloads section of a browser. You should open the file and then it will open in a browser (may open in a different browser)