The following application changes have been made:
Individual Income Tax Return (IITR)
- Managed Funds distribution worksheet has been reinstated. For 2020, a taxpayer's share of the amounts has been added in line with new ATO specifications.
- Removed the cents from the new Multi Rental Property schedule. Refer to KA-04133 for further information.
- Corrected issue with foreign source income that could cause validation errors IITR.730088, IITR.730092, IITR.730097, IITR.730358, IITR.730359, IITR.730353, and IITR.730354.
- Income Tests IT1 has had manual entry of amounts disabled. All amounts of reportable fringe benefits must now be entered using the PAYG Summary worksheets with other associated amounts. This is in line with new SBR specifications. If amounts have been previously entered in manually at this item, you will be prompted to delete these.
- Income Tests IT2 has had manual entry of amounts disabled. All amounts of reportable employer superannuation contributions must now be entered using the PAYG Summary worksheets with other associated amounts. This is in line with new SBR specifications. If amounts have been previously entered in manually at this item, you will be prompted to delete these.
- Update T7 and T8 to show amounts of early stage offsets distributed from a managed fund.
- Corrected an issue with Income Q24 - Other category 4 income which could cause validation error IITR.730295.
- Corrected an issue with pre-filled amounts at Income Q6 which could cause validation error IITR.730073.
- Corrected an issue with professional income amounts entered at Q24 which could cause IITR.730436.
- Corrected an issue on the Tax Offsets summary screen in the Tax estimate which caused Early stage investor offsets not to display.
- Corrected the rounding of amounts in Trust distributions. These are now truncated correctly.
- Corrected an issue which could cause ATO SBR warnings to be treated incorrectly as errors.
- Corrected an issue in Q7 - Australian annuities and superannuation income streams, that could cause validation errors IITR.730053 in some cases.
- Corrected a rounding issue in the Foreign Employment Income section which could cause IITR.730086.
- Corrected an issue where entering 0 tax withheld at Q1 could cause IITR.730156.
- Corrected an issue which could remove a 0 entered at Income Tests IT2 after visiting certain screens. This would cause IITR.400078 to reappear.
- Corrected an issue which could cause Income item 8 to be highlighted incorrectly after entering amounts at Income item 4.
- Corrected an issue which could cause an error message to pop up when opening a return stating 'wre2020_express not found'.
- Corrected an issue which caused rolled over Dividend and Interest schedule data to be continued to be rolled over from prior year returns. This schedule was decommissioned in 2019.
- Corrected an issue with some amounts at the Partnership and Trust item which were being rounded rather than truncated.
- Included the ATO's fix for IITR.730239. This would affect any Individual return with a PSI payment summary with a payment type of 'Labour hire', or 'Other specified payments'. While the error will be cleared from the return with this update, the ATO are scheduled to update their gateways on the night of Friday 17th July. Attempting to lodge returns which previously had this error before then will result in a rejection with the same error code.
- Other items - A2 Part-year tax-free threshold has been reworded to avoid confusion with ATO labels.
- Added validation errors for Dividend mandatory items to prevent XML errors on lodgement.
- Add several validation rules to partnership income entry, required the completion of all share of income labels, as well as all deduction labels if a deduction is present.
- A button has been added to Income item 1 to take users directly to the PAYG summary worksheet found in Batch Data. Payments that contain reportable fringe benefits amounts, or reportable employer superannuation contributions are required to be entered using the worksheet.
- Changed the '[Prefilled]' prefix added to descriptions to 'PREFILLED' to avoid XML errors when lodging. Existing imports will need to be re-imported.
- Removed extra characters from the Partnership description field when transferred from a linked partnership. This could cause XML errors on lodgement.
- Removed industry codes 90020 and 97000 from the industry lists in various questions.
- Removed Assessable FHSS released amounts from the various Income Tests.
Company Tax Return (CTR)
Trust Tax Return (TRT)
- Corrected an issue which caused the Date of Death field to be disabled when Deceased estate had been selected.
- Corrected an issue in the printing of the Statement of distribution which caused large illegitimate values to be printed in fields A1 and A2 (NCMI).
Stay Informed with Known Issues
Please refer to the knowledge base article KA-03783 for any known issues related to this release. We recommend reviewing this article on a regular basis to ensure you’re aware of any issues and their solutions.
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