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Features / The product

Everything checked, explained, and ready to sign.

A guided tour of the review your team sees, from the big-picture movement, to every cross-checked figure, to the compliance matters that carry the most risk.

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Demo Holdings Pty Ltd
Company review  ·  FY 2025  ·  36 cross-checks  ·  10 compliance checks
At a Glance
Year-on-year snapshot
FY 2025
Total Revenue-35.7%
Prior$440,494
Current$283,093
Accounting Profit-36.3%
Prior$268,491
Current$171,080
Taxable Income–
Prior–
Current$180,519
Tax Payable-36.0%
Prior$70,526
Current$45,130
Subcontractors-93.0%
Interest Income100.0%
Wages And Salaries-36.6%
Dividends Paid23.9%
Accounts Receivable-90.7%
ItemPriorCurrentChange
Subcontractors$54,273$3,827-93.0%
Interest Income$0$20,000100.0%
Wages And Salaries$31,532$20,000-36.6%
Dividends Paid$113,000$140,00023.9%
Accounts Receivable$40,934$3,795-90.7%

The company experienced a significant decline in financial performance, with total revenue dropping by approximately 35% and net profit decreasing by 36%. This downturn was primarily driven by a substantial reduction in Australian consulting income and a decrease in subcontractor costs. While the company saw a boost from new interest income and a reduction in wages, these were insufficient to offset the loss in core trading revenue. The decrease in profitability is further reflected in the lower current year tax expense compared to the prior year.

Cross-checks
● Mismatched 0● Not found 2● Single source 3● Matched 31
Mismatched
0
Not found
2
Single source
3
Matched
31
MATCHED · 2 SOURCESTotal Revenue — 283,093
FS P&L gross income totals $283,092.83 vs ITR Label S $283,093.00 — within the $2 rounding tolerance.
SINGLE SOURCEPublic Officer — Ms Sophie Smith
Identified in the Income Tax Return (p1) only — flagged as a single-source verification for your review.
Compliance Checks
● Failed 0● Review 0● Passed 9● N/A 0
Division 7A CompliancePASS
Debit loan of $96,478 identified and disclosed; repayment and dividend documentation present for review.
Base Rate Entity (BREPI)PASS
Passive income 7.06% (≤80%); qualifies as BRE; 25% rate applied consistently.
Personal Services IncomePASS
PSI disclosures in the workpaper match the ITR; results test passed.
Tax ReconciliationPASS
T1 arithmetic, taxable income and tax expense reconcile across FS, workpaper and ITR.
01 / Cross-checks

Every figure, reconciled across every document.

Taxpartna reads the entire file, financial statements, the income tax return, workpapers, ASIC documents and client communications, then reconciles each value against every source it appears in, and tells you exactly where each one stands.

Matched
The value agrees across two or more independent sources, within tolerance.
Single source
Found in only one document, no second source to corroborate it.
Not found
Expected but not located in any document in the file.
Mismatched
Sources disagree beyond tolerance, flagged for your attention.
Entity & Identity1 single source · 7 matched
Name Of Entity6 sources
Main Signing Director3 sources
Shareholding Percentages3 sources
Public Officer1 source
Tax & Accounting2 not found · 24 matched
Tax Payable$45,129.75 · 5 src
Dividends Paid$140,000 · 8 src
Related Party Loans$96,478 · 3 src
Expense Payroll TaxNot found
02 / Compliance checks

Complex matters, checked and explained in full.

Each compliance check shows its working, the values used, the calculation, and the reasoning, so you can confirm the result with your own judgment in seconds.

PASSDivision 7A Compliance

Checks that the workpapers contain the Division 7A information and supporting documentation relevant to the practitioner's review, and that the loan is disclosed consistently across the file.

Loan classification
Debit
Balance sheet value
-96,478.03
ITR Label N
96,478
Variance
0.03
Explanation
  • Balance Sheet (p7) lists ‘Loan – Sophie Smith’ under Current Liabilities at ($96,478.03).
  • This is a related party loan and potentially subject to Division 7A.
  • ITR (p3, Label N) reports loans to shareholders & associates as $96,478; variance of $0.03 is within the $2 tolerance.
  • Repayment and dividend documentation is present for the practitioner’s review. Calculations and conclusions remain the responsibility of the registered tax practitioner.
PASSBase Rate Entity Passive Income

Passive income is well below the 80% threshold; the entity qualifies as a Base Rate Entity at the 25% rate.

Gross interest
20,000.00
Total assessable
283,093.00
BREPI %
7.06%
Tax rate applied
25%
Explanation
  • Passive income consists solely of Gross Interest of $20,000 (ITR & Financial Statements).
  • BREPI% = (20,000 ÷ 283,093) × 100 = 7.06%.
  • Since BREPI% is ≤ 80% and turnover is well below $50M, the entity qualifies as a Base Rate Entity.
  • ITR (p2, s3) explicitly marks ‘Base rate entity’ as Yes; the 25% rate is applied consistently.
PASSExcess Franking CreditsPASSPersonal Services IncomePASSPayroll Tax ThresholdPASSFranking Account ReconciliationPASSTax Planning Strategy Alignment
03 / The export

The perfect file note, written for you.

Once your team signs off, Taxpartna exports the entire review to a single Word or PDF document, the complete, defensible file note your firm needs. It is the record of an AI-assisted tax sign-off from start to finish.

Every figure, the documents it was sourced from, the explanation behind each flag, the compliance working, and the reviewer’s sign-off, all captured. The evidence you need if the ATO ever asks “how did you check this?”

✓Every check, value & source documented
✓Reviewer sign-off captured against each item
✓Exports to Word & PDF, ready for the client file
Taxpartna
Quality Assurance Report
DEMO HOLDINGS PTY LTD
FY 2025 · COMPANY REVIEW
PREPARED 30 JUN 2026
45
Matched / passed
2
Flagged
10/10
Signed off
Cross-check — Total Revenue
Matched ($283,093) across the Financial Statements P&L and Income Tax Return Label S; difference of $0.17 is within the $2 rounding tolerance. ✓ Signed off — Reviewer
Compliance — Division 7A
Debit loan of $96,478 identified and disclosed at ITR Label N; repayment and dividend documentation present for review. ✓ Signed off — Reviewer
Taxpartna
AML / KYC Risk Report
PASS
Overall AML/KYC risk indicator result is pass. No screened parties matched the active DFAT sanctions list above the configured threshold.
Risk indicators
DFAT sanctions screeningPASS
Foreign domiciled directorsPASS
High-risk cash industryPASS
Adverse media searchRECOMMENDED
Parties identified
Demo Holdings Pty LtdENTITY
Sophie SmithDIR / SHAREHOLDER
AlexCLIENT REP
04 / AML & KYC — Tranche 2 ready

Built for the new Tranche 2 obligations.

Australia’s AML/CTF Tranche 2 reforms bring accounting and tax firms into the regime. Taxpartna generates an AML/KYC risk report alongside every review, designed to support your firm’s new obligations from day one.

◆DFAT sanctions screening on every associated party
◆Beneficial ownership & high-risk-industry indicators
◆Party identification & adverse-media recommendations
◆Exports to Word & PDF for your client file

Taxpartna’s AML/KYC report is a risk-screening aid to support your firm’s processes. It is not legal advice and does not, on its own, satisfy your obligations under the AML/CTF regime.

See it run on your next review.

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