Some of the main changes in Microtax 2024 as specified by the ATO are as follows:

Form EI:
• Schedule ID (Income) – new data fields added to Australian Government Benefits section:
— Benefit adjustment reason.
— Benefit adjustment reason description.
• Schedule ID (Income) – new data fields added to Trust Distributions section:
— ABN of distributing trust.
— ACN of distributing trust.
— Name of distributing trust.
— Share of income – Primary production – Non-Concessional MIT Income.
— Share of income – Primary production – Excluded from Non-Concessional MIT Income.
— Share of income – Non-primary production – Non-Concessional MIT Income.
— Share of income – Non-primary production – Excluded from Non-Concessional MIT Income.
— Div 6AA Eligible income.
— Australian franking credits from a New Zealand company.
— National rental affordability scheme tax offset from trusts.
— Exploration credits distributed.
— Share of net small business income.
— Early stage venture capital limited partnership tax offset.
— Early stage investor tax offset.
— Net capital gain.
— Gross capital gain.
— Capital losses applied.
— CGT discount applied.
— CGT small business concessions applied.
— Capital gains – Non-Concessional MIT Income.
— Capital gains – Excluded from Non-Concessional MIT Income.
— Share of credit for foreign resident capital gains withholding amounts.
— Attributed foreign income.
— Other assessable foreign source income.
— Foreign income tax offset.
— s98(3) assessable amount – Non-resident beneficiary additional information.
— s98(4) assessable amount – Non-resident beneficiary additional information.
• P11 Temporary full expensing – section removed:
• P12 Small business boost
— Small business energy incentive added.
— Small business technology investment boost removed.

Form EC:
• Schedule TD (Trust Distributions) – new schedule.
• 7 Reconciliation to taxable income or loss – new data fields:
— Small business energy incentive added.
— Small business technology investment boost removed.
• 13 Losses information – data fields removed:
— All loss carried back fields.
• 24 Digital Games Tax Offset – new data fields:
— Current year refundable digital games tax offset amount being claimed.
— Total current year refundable digital games tax offset already claimed or being claimed by related companies

Form EP:
• Schedule TD (Trust Distributions) – new schedule.
• 52 Small Business Boost – new data fields:
— Small business energy incentive added.
— Small business technology investment boost removed.

Form ET:
• Schedule TD (Trust Distributions) – new schedule.
• Beneficiary distributions – new data fields:
— F1 Gross capital gain – Beneficiary share.
— F2 Capital losses applied – Beneficiary share.
— F3 CGT discounts applied – Beneficiary share.
— F4 CGT small business concessions applied – Beneficiary share.
— • 52 Small Business Boost – new data fields:
— Small business energy incentive added.
— Small business technology investment boost removed.

Form MS:
• Schedule TD (Trust Distributions) – new schedule.