An issue has been reported in Reckon APS Tax 2019.1.0 and Reckon APS Tax Manager & Elite Forms 2019.1.0 where the following error message is triggered when trying to lodge a 2019 Activity statement in which the PAYG instalment has been varied.
Validation error will show information similar to the screenshot below. The amounts shown in the validation report will vary according to the information in the Activity Statement.
If the taxpayer is required or chooses to pay quarterly, they will need to pay the amount due by the due date on the activity statement or notice. The amount will be 25% of the PAYG instalment liability for the income year (T8) for each quarter.
The ATO now requires the amounts for the PAYG instalments to be calculated as follows:
T8 = Estimated tax for the year
Estimated tax to be paid by each quarter:
Quarter 1 (September Quarter) = T8 x 25%
Quarter 2 (December Quarter) = T8 x 50%
Quarter 3 (March Quarter) = T8 x 75%
Quarter 4 (June Quarter) = T8 x 100%
To clear the error, the correct amounts need to be recorded at T9 as per the ATO percentages for the quarter .