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Tax Australia: Foreign income added back to taxable income when preparing a company return

The reconciliation foreign income amount is added back to the taxable income.

Updated over a month ago

This occurs when you have not completed the Reconciliation section under the Foreign Worksheet.
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Follow the steps below to correct the taxable amount for the company return.

  1. Go to the Foreign Income Worksheet.

  2. Navigate to Reconciliation to Accounts.

  3. Enter the amount for foreign source income included in accounts.

  4. The amount will be cleared from the Tax estimate.

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