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Problem

An issue has been reported in Reckon APS Tax Manager and Elite Forms 2020.3.1 where the following errors are triggered in some individual tax returns:

IITR.730055 Australian annuities and superannuation income streams Taxable component "Untaxed element" amount is incorrect.
INCDTLS.000314 Annuity deductible amount of undeducted purchase price is incorrect. 

 

Solution

The problem described will be fixed in a future release. Please review all future release notes for a fix to this issue.  

Workaround

To fix this issue, users will need to install the Hotfix file available. This can be obtained from the Downloads section for APS Tax Manager & Elite Forms.
Go to the MyAPS Portal. You must log into the Portal to access the downloads page.