lana.graham's avatar
lana.graham
Icon for Iress Contributor rankIress Contributor
6 months ago

27th March AMA: I'm Lana Graham, Xtools+ expert and product manager. Ask Me Anything!

Xtools+ has helped countless advice practices work out solutions to their clients' financial problems – even for the most complex scenarios. Why not fully harness its potential and have a say in what...
advice production
xplan
yonit.udis3's avatar
yonit.udis3
Network Navigator
5 months ago

Hi Lana,

I have a client who is a non-tax resident and receives interest income from a bank account that is taxed (withheld) at 10%. There seems to be a way to model this but I can't figure it out. He has no other income in Australia but it seems to be showing tax at his marginal rate.

Can you help with this one?

lana.graham's avatar
lana.graham
Icon for Iress Contributor rankIress Contributor
5 months ago

Hi yonit.udis3 , 

Thanks for this question - its similar to another one I received in the last AMA. Currently you only have the option to either apply the tax free threshold or not - however just one option for non-residents (since there is no tax-free threshold). Your question highlights that we really do need to think about adding a % option for Withholding tax. Feedback noted!


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