While personal tax payers provide much of the compliance work performed by accountants and tax advisers, many also have to deal with partnerships, trusts and estates.
CCH Partnership Tax and CCH Trust Tax are optional modules of CCH Personal Tax which allow the necessary computations and returns to be produced for these client types.
All three applications share data so that personal tax returns can easily be produced for partnership and trust clients and vice versa. For example, an individual partner's share of profits automatically updates the partnership pages of their own personal return.
CCH Partnership Tax deals with the allocation of profit, loss and other income and charges between the partners, producing a tax computation, the SA800 and all supplementary pages.
Income and expenses for the partnership can be imported from an external source such as a trial balance prepared using a third-party accounting system.
CCH Trust Tax calculates the tax liability of a trust or estate, producing a tax computation, the SA900 and all supplementary pages.
The software stores details of the taxable income of each beneficiary to produce a copy of the R185 for beneficiaries of discretionary trusts, non-discretionary trusts and estates. Where you act for the beneficiary, you can also pass the details directly to the personal tax return or repayment claim produced by CCH Personal Tax.
CCH Personal Tax software is part of Wolters Kluwer's suite of software products which share data through CCH Central, making it possible for you to report, access and use tax, accounting and practice management information across the entire practice.