Overview of a Consolidated Tax Group

The consolidated tax group entity is a separate entity with its own IRD number.  The consolidated tax group maintains tax losses, tax credits and the imputation credit account at the consolidated level.

The rest of the tax calculation flows up from the member entities.  So you will need to prepare the tax calculations for each group member before reviewing the consolidated tax group position. 

To complete the tax losses, tax credits and imputation credit account details for the consolidated tax group entity, go to the consolidated tax group entity.  Click the Workpapers tab and complete the relevant details.

For instructions on how to create a consolidated tax group, see our article Create a Group.

To learn how to upload trial balances for multiple entities at the same time, see out article Import trial balances for a Group from Microsoft Excel.