What's NEW!

ATO Updates

  • The interest rate for repayments of shareholder loans under Division 7A for the year ending 30 June 2021 has been updated (it is now 4.52%).
  • Click here to find an overview of all the key changes for tax time 2020.




Description Reference 

In a 2020 individual return, SBR error IITR.730096 should no longer occur in relation of foreign tax paid in respect of income that is exempt under section 23AI or section 23AK.


For 2020 individual returns, deductions incurred in deriving franked distributions from trusts that are not managed investment schemes are now correctly carried to the income details schedule (SBR error IITR.000283 is no longer displayed).


For 2020 individual returns, the primary production income from trust was sometimes not appearing on the income details schedule, leading to SBR error IITR.730406. This has now been fixed.


The partnerships and trusts deductions codes (PP and non-PP) on the 2020 individual form are now calculated in accordance with the ATO's requirements. This should prevent SBR errors IITR.730480 and IITR.730485 from appearing.


The problem that prevented lodgement of 2019 individual returns that contained an FHSS released amount (IITR.100043) has been resolved.


The limitation on adding and deleting rows in the assessable income and foreign tax paid grid for 'Other foreign salary' in the foreign income worksheet for 2020 individual returns has been removed (except where the amounts represent exempt foreign employment income entered on a payment summary at item 1).


The rental property validations for 2020 individual returns was not executing correctly immediately after it receives rental sharing data. This has now been resolved.


The capital works deduction allocation, the capital allowance in decline in value allocation, and the low value pool decline in value allocation has been fixed upon rollover so that the value retains when it should.


The distribution section of the trust return contains information that does not have a specific tax return label. This information was not being printed, but it has now been added to the bottom of each beneficiary.


For 2018, 2019, and 2020 SMSF returns, the code "P - Death benefit (dependant) where the member died after age 60 or recipient is over 60" for the pensions paid to members is now correctly transmitted to the ATO (so that error XBRL04 is not received).


The validation error INCDTLS.000012 was not displaying correctly. This has now been resolved.


In 2017 individual returns, rule VR.ATO.IITR.100043 / CMN.ATO.IITR.022015 was displaying incorrectly and was preventing the lodgement of valid returns. This rule has been fixed so that it should no longer show on valid returns.


The distribution section of the partnership return contains information that does not have a specific tax return label. This information was not being printed, but it has now been added to the bottom of each partner. This information includes foreign income and business activity details.


The EFT Details in the return integrity check window will now display on changed EFT details on all returns.


For 2019 and 2020 individual returns, the 5th onwards superannuation lump sums now print correctly.


The EFTRS Report Date will now filter the EFTRS agent report correctly but only for where the filter selected "is equal to". 





Description Reference 

For 2020 TPAR forms, the GST is now defaulted for payments made whether or not the dissection grid is used.


A new option in System and User Product Settings called "Use EFT for refund" is now available. Setting this to True will default the value of "Use EFT for refund?" to Yes in the return for all forms.



Stay Informed with Known Issues

Please refer to the knowledge base article KA-03782 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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