CTS Logo

Complete Tax Solutions

ShineWing Australia has been developing practical tax publications and software solutions for more than two decades. We are highly product and results orientated. Further, we have a distinguished track record in delivering reliable, robust and cutting edge tax software solutions to entities in a diverse range of industries.

We have over 80 years history acting as auditors, accountants and tax advisors for domestic and multinational groups doing business all around the world. We have combined our years of expertise in tax compliance and advisory and software engineering to continuously produce a portfolio of Complete Tax Solutions (CTS) products.

CTS is used by private, large and listed groups in Australia. Our software products are used by hundreds of tax professionals (including those in professional services firms and in industry) nationally. 

We recently hosted our first CTS Conference with special guest speakers. Click below to watch the video presentations from the day:

Lee Bond Kennedy snapshot2

Above: Visual and Self-Service Analytics

 Mark Bird Kennedy snapshot

Above: Embracing Robotics and Automation in the Tax Function

 

The CTS suite of products include:

CTS for Corporates

CTS enables you to streamline and automate your entire tax reporting and compliance process. These include:  

  • accounts integration

  • tax management

  • accounting for income taxes

  • consolidated tax return preparation

  • generation of tax journals and disclosures for the financial statements. 

CTS streamlines the calculation of tax balances to be included in the financial statements. 

The outcome - CTS delivers increased integrity, efficiency and effectiveness.

CTS automatically:

  • calculates the current and deferred tax balances

  • generates the journals required to be posted

  • generates the comprehensive AASB 112 compliant disclosure notes to be incorporated into the financial statements.

This means that the complex tax effect accounting is simplified, with the hard work being done for you.

CTS webpage diagram ENG

 

Features and Benefits

CTS has a number of features and benefits that our customers take advantage of every day.

Tax Return Preparation

CTS integrates the tax reporting and tax return preparation process. This feature mitigates the duplication of work and costs. CTS tax returns can be lodged manually or electronically with the ATO via the Standard Business Reporting (SBR) portal.

CTS facilitates record keeping and linking of all workpapers. The workpapers are systematic and form the basis of support in the event of a tax audit.

Integrity

With the automation function, automatic links, rigorous testing and in-built validation features, you can be confident with the outputs from CTS.

Tax Management

The tax management component enables listing and monitoring of required tasks. This means stronger communication and more effective supervision.

Support

Our training and customer support is characterised by exemplary professionalism which means availability and prompt resolution of issues. When you ring our support line you will speak to a fully qualified tax professional who will be able to understand and resolve your issues.

Access to the helpline is provided at no extra cost.

Added Value

CTS is backed by an easy to read help screen, written to promote understanding of highly technical tax effect accounting issues, which includes leading technical commentary and numerous practical examples.

Evaluate Performance

CTS generates information to assist with the evaluation of the company’s performance and financial position.

Consolidation Function

CTS enables the consolidation of the tax effect accounting balances and disclosure notes using a ‘bottom up’ approach. The system also enables the preparation and lodgement of the consolidated income tax return and schedules.

Geographic Mobility

CTS enables subsidiaries/finance functions in different geographic locations to use the same tax effect accounting and tax return preparation software. The foreign currency translation functionality automates the translation, of local currency to the group's reporting currency. 

User Friendly 

CTS has been developed within the Microsoft Excel environment, providing a user friendly and familiar working platform for users. While CTS is intuitively simple to use, we have incorporated a detailed step-by-step user guide. This means most of the process can be delegated and less time is needed to become familiar with the software.

The users of CTS operate in the following sectors:

Automotive

Clean Energy

Transport and Logistics

Funds Management

Engineering

Global Trading

Mining and Oil Refinery     

Power Generation

Manufacturing

Professional Services

Property Development

Agriculture

Publications

Software and IT Services     

Distribution

Utilities

Financial institutions

Government

 

 

 

 

 

 

Want to find out more?

To learn more about how CTS can benefit your business, simply click here to email our CTS team and a team member will be in touch with you within the next business day.

What do clients have to say about us?

Saves Valuable Time

“We use it for statutory accounts and also local monthly reporting… With a business as usual month end our consolidated tax calculation is completed in 15 minutes!”

“Rollover of previous year's balances – saves considerable time and ensures that balances are transferred accurately…”

Empowers Your Tax Team

“… CTS allows me to quickly access job progress in the event of a client enquiry and ensure that my schedules are met…”

“Using CTS to bring the tax reporting process in-house has empowered management and provided us with greater control of the tax reporting and compliance tasks…”

Regular Software Enhancements

“We have also found ShineWing Australia helpful in developing CTS each year to satisfy any additional requirements we might have both internal and external to the business…”

Ease of Use

“CTS is developed using an Excel platform which makes it easy to learn, navigate and customise where required…”

“Being Excel, our staff were familiar with the layout and capabilities from the start…”

Friendly Support Team

“CTS support staff have been warm, friendly and efficient…”

“We also found the CTS helpline team to be responsible, professional and helpful…”

“It is pleasing that the support extends all the way to the top and comes inclusive in the price of the software…”

Flexible

“… The flexibility of the package would make the software suitable for large and small practices in addition to large corporates who prepare their returns in-house…”

“Being able to use the same software for both the tax reporting and tax return preparation process eliminated duplication… The transition was hassle free…”  

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CTS for Australian Managed Investment Trusts (AMITs)

CTS for AMITs are designed for entities opting into the new AMIT regime. It allows you to streamline the tax distribution calculation, reporting and tax return preparation processes.

Designed by ShineWing Australia - leading providers of tax services to the funds management industry. We are the first to offer an end-to-end tax solution that caters for the AMIT regime.

Whether you are a listed AREIT, large investment fund or a small group of retail funds, CTS for AMITs sets the industry standard for AMIT compliance.

CTS for AMITs has the following features:

  • Automation of unders and overs and a feature to cross allocate overs

  • Calculation of the net cost base adjustment for unit holders under the new CGT event E10

  • 2-step approach to allocating general expenses as prescribed by law

     - Step 1: Option to directly allocate specific expenses to income components

     - Step 2: Automated options to allocate remaining expenses (as prescribed by ATO)

  • Populates the AMMA statement consistent with the ATO's recommendation

  • Populates the new AMIT tax return and schedules

  • Electronic lodgement of the AMIT tax return and schedules via the Standard Business Reporting (SBR) portal

  • Integration with MITs (using CTS for Trusts) and vice versa

  • Rollover from prior year Trusts to AMITs

  • Rollup from subsidiaries (Trusts to AMITs or AMITs to Trusts)

Best of all, the existing features from our trusted CTS products are still there (and improved) including:

  • Automation of tax adjustments directly from the trial balance

  • Preparation of tax distribution calculations

  • Integration with Excel workpapers (including advanced auto-link functionality)

  • Bulk trial balance upload for large groups

  • Fast and user-friendly interface

  • Audit report to help track reviewed numbers and queries from one convenient location

  • Easy-to-use structure for flowing distributions from Trusts or AMITs up to the head level

  • Excel functionality

  • Desktop, network and cloud options

If you would like a demonstration or have any further questions about the AMIT regime, our AMIT experts would be happy to discuss. Simply click here to email our CTS team and a team member will be in touch with you within the next business day. 

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CTS for Trusts 

Designed by ShineWing Australia - leading providers of tax services to the funds management industry. CTS for Trusts offers an end-to-end tax solution for the listed AREITs, large investment funds or a small group of retail funds.

CTS for Trusts has the following features:

  • Preparation of tax distribution calculations

  • Thinking done for you using CTS workpapers which include:

     - Under/overs

     - Loss recoupment

     - Blackhole 

     - Capital allowance

     - Capital works

  • Preparation of Trust tax return

  • Electronic lodgement of the tax return and schedules via the Standard Business Reporting (SBR) portal

  • Rollover from prior year CTS files

  • Rollup from subsidiaries (Trusts to AMITs or AMITs to Trusts)

Best of all, the existing features from our trusted CTS products are still there (and improved) including:

  • Automation of tax adjustments directly from the trial balance

  • Preparation of tax distribution calculations

  • Integration with Excel workpapers (including advanced auto-link functionality)

  • Bulk trial balance upload for large groups

  • Fast and user-friendly interface

  • Audit report to help track reviewed numbers and queries from one convenient location

  • Easy-to-use structure for flowing distributions from Trusts or AMITs up to the head level

  • Desktop, network and cloud options

If you would like a demonstration or have any further questions about CTS for Trusts, our fund experts would be happy to discuss. Simply click here to email our CTS team and a team member will be in touch with you within the next business day. 

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CTS - Employee Share Scheme 

The Australian Taxation Office (ATO) have reporting obligations in place, affecting those employers who offer shares or share options to their employees. From the income year ending 30 June 2016, some employers can no longer lodge their Employee Share Scheme (ESS) reporting with the ATO using paper or by bulk load Excel spreadsheet.

The deadlines to comply with the new reporting requirements are:

  • Employee reports (payment summaries) are due to be issued to employees by 14 July

  • ATO reports are due for lodgement with ATO by 14 August

CTS ESS - Innovative Solution

ShineWing Australia has developed CTS ESS to simplify and automate employers’ online annual employee share scheme reporting obligations. CTS ESS enables Electronic lodgement of the ATO reports via the Standard Business Reporting (SBR) portal. 

What do the ATO reporting obligations mean for you?

If you are an employer:

 

You will need to:

 

How CTS ESS can benefit you:

Reporting <50 employees (with an Australian ABN)

 

Use the ATO tax portal to
manually complete
the ATO reports

 

CTS ESS can help with the completion of the forms.
The rollover function reduces data entry going forward.

Reporting >50 employees OR
Reporting <50 employees (without an Australian ABN)

 

Lodge the ATO reports
electronically

 

CTS ESS enables electronic
lodgement of the ATO reports.

With globally mobile employees

 

Indicate on each employee's PAYG summary:

  • Whether the reported figures are gross or apportioned between Australian-sourced/other work

  • Report assignment dates (optional)

 

CTS ESS automates and streamlines the ESS reporting process.

  

What types of companies are most likely to benefit from using CTS ESS?

Company profile

Conditions

Large, privately owned company
(>50 reportable employees)

Commonly tax and finance is done in-house and support required for one-off compliance and advisory projects such as ESS reporting.

Head-quartered overseas (either >50 reportable employees or <50 if no ABN)

With subsidiaries/employees in Australia particularly if:

  • Australian employees are in split roles here and overseas

  • Where finance and payroll functions are based offshore, and no access to the required software for ESS reporting

ASX listed company

If you are currently reporting ESS information through the Australian Share Registry, the ESS reporting requirement changes are unlikely to affect you. However, you may wish to consider CTS ESS as an alternative means of meeting your ESS reporting requirements.

 

The ATO is particularly keen to ensure corporates are compliant and providing timely and accurate reporting. Now is the time to ensure your business is not left behind and you have everything in place ready for reporting season. We can provide a fully outsourced service or license our software; whichever you prefer.

If you would like to discuss how to comply with these new changes, or learn more about how CTS ESS will help you, please click here to email our CTS team and a team member will be in touch with you within the next business day. 

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Other CTS products

CTS – International Dealings Schedule

CTS (IDS) simplifies the compilation of international related party dealings data. It generates the International Dealings Schedule for lodgement or transposition to your tax software. If you use the CTS tax returns products, you can also benefit from their integration with CTS (IDS).

CTS Country by Country reporting

Significant global entities, regardless of the size of the entity in Australia, have an annual obligation unless exempt by the Commissioner to submit: 

  • A master transfer pricing file which provides a high level description of the global operations of the group;

  • A local file which describes the Australian operations of the group together with relevant intra group agreements.

  • A CbC report which includes the following information by entity and by jurisdiction: 

    - Revenue (split between related and unrelated parties)

    - Profit before tax

    - Income tax paid and accrued

    - Accumulated earnings

    - Number of employees

    - Tangible assets held

    - Activities undertaken by each constituent entities in the tax jurisdiction

    - Any further information which may assist with understanding the CbC report submitted

The proposed law implements Action 13 of the G20 and Organisation for Economic Co-operation and Development’s (OECD’s) Action Plan on Base Erosion and Profit Shifting.
The above reports if not obtained by the ATO through information exchange, must be lodged in XML format with the ATO.

CTS (CBC) enables the compilation, risk analysis and lodgement of your master file, local file and Country by Country report with the ATO.

CTS Tax Consolidation

CTS (Tax Consolidation) is designed to assist with your Allocable Cost Amount (ACA) calculations. The various steps and prompts highlight the key adjustments to make when making performing the ACA calculations.

CTS REAL - Transfer pricing risk evaluator 

CTS REAL is a transfer pricing risk evaluator developed by ShineWing Australia specifically for multinational companies.

Using CTS REAL our Tax experts will perform a health check on your overseas related loans to:

  • assess the transfer pricing risks

  • understand the expected ATO approach

  • identify ways to mitigate risk where required.

If you would like a demonstration of any of the above CTS products, or have any tax queries, please click here to email our CTS team and a team member will be in touch with you within the next business day.

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