Small Business Advice Archives - BecTax

I’ve reviewed the information you’ve provided for your mum’s 2024 tax return and just have a couple of things I’d like to confirm before I proceed with lodgement. Firstly, could you please confirm your dad’s date of birth, as well as his taxable income for the 2024 financial year? I also noticed something I wanted to check regarding the Telstra shareholdings. In the 2024 pre-filling report, only the smaller holding is showing, whereas in 2025 both holdings appear to be combined. My concern is that the larger Telstra holding may have been reported in your dad’s 2024 tax return instead. Would it be possible for you to check your dad’s 2024 lodged return (if you still have access to the records) to confirm whether the Telstra dividends were included there? At the moment, the reported Telstra dividend for your mum is quite low, which means the franking credits are also lower and this is resulting in a much smaller refund than we originally expected. I’m hoping that by confirming the correct income amounts and dividend reporting, we may be able to include any missing amounts correctly in your mum’s return. Often in a final year tax return, shares like these are included, however, more correctly they should either form part of the estate or be transferred directly to your mum. So it’s important that we make sure the Telstra dividends are reported accurately in the right return. Let me know once you’ve had a chance to check, or if you’d like me to walk through anything with you.

Small Busienss Advice

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