Form errors

DIN – document identification number is required.

A valid document identification number (DIN) must be provided.

Invalid small business concessions total amount.

Total small business concessions cannot be greater than Total current year capital gains less the capital gains tax (CGT) discount.

Invalid amount. Total net capital gain amount incorrect.

Net capital gain must equal Total current year capital gains, less:

• Total capital losses applied
• Total capital gains discount applied, and
• Total small business concessions applied.

Invalid percentage of foreign shareholding (valid values are 1–100%).

Percentage of foreign shareholding must be between 1 and 100.

Invalid percentage of non-member income.

Percentage of non-member income must be between 1 and 100.

Total salary and wage expenses action code required, where amount field has been populated.

At Financial and other information, when there is an amount present at Total salary and wage expenses the Total salary and wage expenses action code must also be provided.

Check claim for early payment interest CR – must not be less than 50 cents.

Check the Credit for interest on early payments – amount of interest and provide an answer that is above 50 cents.

From 2024

(replaces CMN.ATO.CTR 428352)

International dealings schedule required.

An International dealings schedule is required if any of the following apply:

• The value of dealings with international related parties is greater than $2 million.
• The entity had either a direct or indirect interest in a foreign trust, foreign company, controlled foreign entity or transferor trust.

There is a yes response to the question 'Did the thin capitalisation provisions affect you?'. 

Research and development tax incentive schedule must be attached.

Where R&D labels have been completed, a Research and development tax incentive schedule must be attached.

Sum of Refundable R&D tax offset and Current year refundable digital games tax offset amount being claimed is incorrect.

Refundable tax offsets must not be less than sum of Refundable R&D tax offset and Current year refundable digital games tax offset.

Trading account items are present without cost of sales.

When trading account items are present, Cost of sales must be completed.

Response to international aggregate amount transactions question incorrect.

If there is no response to the question 'Did you have any transactions or dealings with international related parties?', there cannot be a no response to the question 'Was the aggregate amount of the transactions or dealings with international related parties greater than $2 million?'

As these items relate to international related party dealings or transfer pricing, the answers cannot conflict with one another.

In calculation statement, PAYG instalments raised amount should be greater than or equal to zero.

When the Status of company is Consolidated head company or Consolidated subsidiary member; there should be an amount for PAYG instalments raised in the calculation statement.

Transactions with specified countries question incorrect.

If there is a yes response on the International dealings schedule at 'Did you have dealings with international related parties located in specified countries?', the response at Overseas transactions – Transactions with specified countries (Item 30 Label I) on the Company return must also be yes.

International dealings schedule required.

An International dealings schedule must be attached, if any of the following amounts are greater than zero:

• interest expenses overseas
• royalty expenses overseas
• section 46FA deduction for flow-on dividends. 

Depreciation expenses are greater than accounting expenditure subject to R&D incentive plus non-deductible expenses.

For a taxpayer not claiming Deduction for certain assets at Small business entity simplified depreciation, Depreciation expenses cannot be greater than the sum of both:

• accounting expenditure subject to R&D tax incentive
• non-deductible expenses. 

Check depreciation expenses or deduction for decline in value of depreciating assets amount.

One of the following problems needs to be addressed:

• an amount is present at Deduction for decline in value of depreciating assets and there is no amount at Depreciation expenses
• an amount is present at Depreciation expenses and there is no amount at Deduction for decline in value of depreciating assets and the taxpayer is not claiming any Deduction for certain assets at Small business entity simplified depreciation. 

Check taxable/net income/loss for the Company, in Reconciliation to taxable income or loss.

Check taxable/net income/loss for the Company, in Reconciliation to taxable income or loss.

Refundable digital games tax offsets are greater than $20,000,000.

The sum of Current year refundable digital games tax offset amount being claimed and Total amount of current year refundable digital games tax offset already claimed or being claimed by related companies must not exceed $20,000,000.

Tax File Number for the Distributions to Beneficiaries of Trust schedule is invalid.

The Tax File Number (TFN) provided for the Distributions to Beneficiaries of Trust schedule must be the same as the TFN of the parent form.

Distributions to Beneficiaries of Trust schedule must be present.

Distributions to Beneficiaries of Trust schedule must be present when Gross distribution from trusts amount is provided.

Reporting period start date for the Distributions to Beneficiaries of Trust schedule is invalid.

Reporting period start date for the Distributions to Beneficiaries of Trust schedule must be the same as the Reporting period start date of the parent form.

Reporting period end date for the Distributions to Beneficiaries of Trust schedule is invalid.

Reporting period end date for the Distributions to Beneficiaries of Trust schedule must be the same as the Reporting period end date of the parent form.

Questions regarding depreciating assets should be answered if Deduction for decline in value of depreciating assets is greater than zero.

If Deduction for decline in value of depreciating assets is greater than zero, then questions regarding depreciating assets should be answered.

Ensure Gross distribution from trusts amount is declared.

Distributions to Beneficiaries of Trust schedule is provided but Gross distribution from trusts amount is not declared.

We use information in this form to meet our obligation to publish R&D expenditure companies claim. This will include publishing your company name, ABN or ACN and claim for notional deductions. For more information, see ato.gov.au

We use information in this form to meet our obligation to publish R&D expenditure companies claim. This will include publishing your company name, ABN or ACN and claim for notional deductions. For more information, see ato.gov.au

Either individual or non-individual name must be supplied.

You must include the client name.

The client has not lodged a nomination for the agent.

The agent should be informed that the client must complete the agent nomination process before linking can occur.

Description of interest or dividend expense contains invalid text.

A valid text character can be a letter, a numeral, a space or one of the following characters: & * ( ) - ' /

From 2019 and later years:

International related party dealings information is required.

If there is a 'Yes' response to 'Is the total of your international related party dealings over $2 million?', then 'Are you a small business entity, not a significant global entity and your international related party dealings do not exceed 50% of your current year aggregated turnover?' must be completed.

2018 and earlier years only: International related party dealings information is required.

If there is a yes response to 'Is the total of your international related party dealings over $2 million?', all International related party dealings questions must be completed.

International related party dealings question incorrect.

If the Foreign country code has been completed, the response to 'Did you have dealings with international related parties, apart from dealings with related parties located in specified countries?' must be yes.

Foreign country code required.

If there is a yes response to 'Did you have dealings with international related parties, apart from dealings with related parties located in specified countries?', the Foreign country code must be completed.

Tangible property of revenue nature information incomplete.

If there is a yes response to 'Did you have any international related party dealings involving tangible property of a revenue nature, including trading stock and raw materials?', the following must all be completed:

• Expenditure or Revenue
• Main pricing methodology code
• Percentage of dealings with documentation code. 

International related party dealings information required.

If there is a yes response to 'Did you have any service arrangements with international related parties?', service arrangements information must be completed.

International related party dealings question incorrect.

If international related party dealings information has been completed for derivative transactions, the response to 'Did you have any derivative transactions with international related parties?' must be yes.

International related party dealings information required.

If there is a yes response to 'Did you have any dealings of a financial nature with international related parties?', financial dealings information must be completed for one or more of the following:

• amounts borrowed
• amounts loaned
• interest
• guarantees
• insurance
• reinsurance
• other financial dealings. 

Interest information incomplete.

If an amount of expenditure or revenue is present, both the main pricing methodology and the code for the percentage of the total dollar value of related party international dealings, for which you have documentation, must be completed.

Other dealings of a revenue nature information incomplete.

If there is a yes response to 'Did you have any other international related party dealings of a revenue nature?', the following must all be completed:

• expenditure or Revenue
• main pricing methodology code
• percentage of dealings with documentation code description. 

International related party dealings information required.

If there is a yes response to 'Did you provide or receive share-based employee remuneration to or from an international related party?', you must complete Deductions and/or Income.

Branch operations information is required.

If there is a yes response to 'Do you have any branch operations (including Australian branch operations if you are a non-resident)?', Amounts claimed or returned for internally recorded dealings with branch operations must be completed.

Interests in foreign entities information not required.

If there is a no response to 'Did you have any interests in controlled foreign companies (CFCs) or controlled foreign trusts (CFTs)?', then the following should not be completed:

• the number of CFCs and CFTs that you had an interest in
• specify the amounts included in assessable income under sections 456, 457 or 459A.

'Did you have a CFC that was a resident of an unlisted country that provided a benefit (as defined in section 47A of the ITAA 1936), either directly or indirectly, to you or any of your related entities at any time during the income year?'  

Interests in foreign entities information required.

If there is a yes response to 'Did you have any interests in controlled foreign companies (CFCs) or controlled foreign trusts (CFTs)?', the following must all be completed:

• number of CFCs and CFTs that you had an interest in
• amounts included in assessable income under sections 456, 457 or 459A.  

From 2022

Interests in foreign entities information required.

Information regarding foreign branch operations or interests in foreign companies or foreign trusts is required.

Action:

If there is a TRUE response to 'Do you have foreign branch operations or any direct or indirect interests in foreign companies or foreign trusts?', the following must be completed:

• Section 23AH Foreign branch income or Section 23AI Amounts paid out of attributed CFC income or Subdivision 768-A foreign equity distributions for Listed, Specified or Other unlisted countries or Non-deductible expenses incurred in deriving section 23AH non-assessable income
• Response to the question 'Did you have any debt deductions in earning non-assessable non-exempt foreign income?'
• Response to the question 'Did you have any Capital Gains Tax (CGT) events in relation to your interest in a foreign company?'
• Response to the question 'If you have foreign branch operations or any direct or indirect interests in foreign companies or foreign trusts, then did you receive a foreign equity distribution that gave rise to a foreign income tax deduction?'
• Response to the question 'If you have foreign branch operations or any direct or indirect interests in foreign companies or foreign trusts, then did you derive branch hybrid mismatch income?' 

2021 and earlier years:

Interests in foreign entities information required.

If there is a yes response to 'Do you have foreign branch operations or any direct or indirect interests in foreign companies or foreign trusts?', the following must all be completed:

• non-assessable foreign income derived under sections 23AH, 23AI or subdivision 768-A
• a response to 'Did you have any debt deductions in earning non-assessable non-exempt foreign income?'
• a response to 'Did you have any capital gains tax (CGT) events in relation to your interest in a foreign company?' 

From 2024

A response to 'Did you rely on the $2 million threshold exemption?' is required.

If there is a FALSE response to 'Were the thin capitalisation rules applicable to you?' then a response must be provided at 'Did you rely on the $2 million threshold exemption?'

From 2024

Thin capitalisation information is required.

If there is a TRUE response to 'Were the thin capitalisation rules applicable to you?' then a response must be provided at 'Has an Australian resident company elected under subdivision 820-FB of the ITAA 1997 to treat your qualifying Australian branch operations as part of a consolidated group, MEC group or a single company for thin capitalisation purposes?'

From 2024

At least a True response is required at either '90% asset threshold' or 'Certain special purpose entities'.

If there is a FALSE response to 'Were the thin capitalisation rules applicable to you?' and there is a FALSE response to 'Did you rely on the $2 million threshold exemption?' then at least one TRUE response must be provided at either '90% asset threshold' or 'Certain special purpose entities'.

From 2024

Restructuring event information required.

If there is a TRUE response to '90% asset threshold' and 'Entity type code for the income year' is equal to '1', '2' or '3', then a response to 'Did you restructure or replace an arrangement during the income year which would have satisfied the conditions in subsection 820-423A(2) or (5), if the arrangement was still in place on or after 1 July 2024?' must be provided.

From 2024

The response to Special purpose vehicle question must be TRUE.

If there is a TRUE response to 'Certain special purpose entities' then a TRUE response must be provided at 'Were you, or member of your tax consolidated group, a special purpose vehicle subject to section 820-39 of the ITAA 1997?'

From 2024

Entity ABN is not required but Entity type code for the income year must be completed.

If there is a FALSE response to 'Has an Australian resident company elected under subdivision 820-FB of the ITAA 1997 to treat your qualifying Australian branch operations as part of a consolidated group, MEC group or a single company for thin capitalisation purposes?', then entity Australian Business Number (ABN) must not be completed and 'Entity type code for the income year' must be completed.

From 2024

Financial entity type code must be completed.

If there is a TRUE response to 'Were the thin capitalisation rules applicable to you?' and there is a FALSE response to 'Has an Australian resident company elected under subdivision 820-FB of the ITAA 1997 to treat your qualifying Australian branch operations as part of a consolidated group, MEC group or a single company for thin capitalisation purposes? and 'Entity type code for the income year' is equal to '2' or '3' then 'Financial entity type code' must be completed.

From 2024

Entity type code at the end of your income year must be '11'.

If 'Entity type code for the income year' is equal to '1' and there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' then 'Entity type code at the end of your income year' must be '11'.

From 2024

Thin capitalisation information required.

If 'Entity type code for the income year' is equal to '1' and there is a TRUE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' then a response must be provided to the following questions.

- Debt deductions

- Debt deductions on debt from related non-residents

- Amount of debt deduction disallowed

- Adjusted average debt

- Interest income and other amounts covered by paragraph 820-50(3)(b)

- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents

- Tax-EBITDA

- Did you rely on the group ratio test?

- Did you rely on the third party debt test?

- Were you, or member of your tax consolidated group, a special purpose vehicle subject to section 820-39 of the ITAA 1997?

- Did you restructure or replace an arrangement during the income year which would have satisfied the conditions in subsection 820-423A(2) or (5), if the arrangement was still in place on or after 1 July 2024?

From 2024

Thin capitalisation information required.

If 'Entity type code for the income year' is equal to '2' or '3' and 'Financial entity type code' is equal to 'b', 'c', 'd', or 'e' and there is a TRUE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' then a response must be provided to the following questions.

- Average values calculation method code

- Debt deductions

- Debt deductions on debt from related non-residents

- Amount of debt deduction disallowed

- Adjusted average debt

- Interest income and other amounts covered by paragraph 820-50(3)(b)

- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents

- Did you rely on the third party debt test?

- Were you an investing financial entity non-authorised deposit taking institution (non-ADI) for the income year?

- Did you rely on worldwide gearing debt/capital tests?

- Did you restructure or replace an arrangement during the income year which would have satisfied the conditions in subsection 820-423A(2) or (5), if the arrangement was still in place on or after 1 July 2024?

From 2024

The response to thin capitalisation amendments applicable question must be TRUE.

If 'Entity type code for the income year' is equal to '2' or '3' and 'Financial entity type code' is equal to 'e' then the response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year? must be TRUE.

From 2024

Thin capitalisation information required.

If 'Entity type code for the income year' is equal to '2' or '3' and 'Financial entity type code' is equal to 'a', 'b', 'c' or 'd' and a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' and 'Entity type code at the end of the income year' is equal to '2', '4', '6' or '10' then a response must be provided to the following questions.

- Did you change your entity status from 'general' to 'financial' during the income year?

- Average values calculation method code

- Debt deductions

- Debt deductions on debt from related non-residents

- Amount of debt deduction disallowed

- Adjusted average debt

- Interest income and other amounts covered by paragraph 820-50(3)(b)

- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents

- Were you an investing financial entity non-Authorised Deposit-taking Institution (non-ADI) for the income year?

- Did you rely on arm's length tests?

- Did you rely on worldwide gearing debt/capital tests?

From 2024

The response to thin capitalisation amendments applicable question must be FALSE.

If 'Entity type code for the income year' is equal to '2' or '3' and 'Financial entity type code' is equal to 'a' then the response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' must be FALSE.

From 2024

'Entity type code at the end of the income year must be '2', '4', '6', '10' or '11'.

If 'Entity type code for the income year' is equal to '2' or '3' and 'Financial entity type code' is equal to 'a' and a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' is provided then 'Entity type code at the end of the income year' must be '2', '4', '6', '10' or '11'.

From 2024

Thin capitalisation information required.

If 'Entity type code for the income year' is equal to '4' or '5' and there is a TRUE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?', then a response must be provided to the following questions.

- Average values calculation method code

- Debt deductions

- Debt deductions on debt from related non-residents

- Amount of debt deduction disallowed

- Interest income and other amounts covered by paragraph 820-50(3)(b)

- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents

- Were you an Authorised Deposit-taking Institution (ADI) for the income year?

- Did you rely on the arm's length capital test?

- Did you rely on worldwide gearing debt/capital tests?

From 2024

Thin capitalisation information required.

If 'Entity type code for the income year' is equal to '4' or '5' and there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' and 'Entity type code at the end of the income year' is equal to '7' or '8', then a response must be provided to the following questions.

- Average values calculation method code

- Debt deductions

- Debt deductions on debt from related non-residents

- Amount of debt deduction disallowed

- Interest income and other amounts covered by paragraph 820-50(3)(b)

- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents

- Were you an Authorised Deposit-taking Institution (ADI) for the income year?

- Did you rely on arm's length tests?

- Did you rely on worldwide gearing debt/capital tests?

From 2024

Entity type code at the end of the income year must be '7', '8' or '11'.

If 'Entity type code for the income year' is equal to '4' or '5' and there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' then 'Entity type code at the end of the income year' must be '7', '8' or '11'.

From 2024

The response to thin capitalisation amendments applicable question must be FALSE.

If 'Entity type code for the income year' is equal to '6' or '7' then the response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' must be FALSE.

From 2024

Entity type code at the end of the income year must be provided.

If 'Entity type code for the income year' is equal to '6' or '7' and there is a FALSE response at 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?', then 'Entity type code at the end of the income year' must be provided.

From 2024

Thin capitalisation information required.

If 'Entity type code for the income year' is equal to '6' or '7' and there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?, and 'Entity type code at the end of the income year' is '1', '2', '3', '4', '5', '6', '9' or ,'10' then a response must be provided to the following questions.

- Did you change your entity status from 'general' to 'financial' during the income year?

- Average values calculation method code

- Debt deductions

- Debt deductions on debt from related non-residents

- Amount of debt deduction disallowed

- Adjusted average debt

- Interest income and other amounts covered by paragraph 820-50(3)(b)

- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents

- Were you a non-Authorised Deposit-taking Institution (non-ADI) for the income year?

- Did you rely on arm's length tests?

- Did you rely on worldwide gearing debt/capital tests?

From 2024

Thin capitalisation information required.

If there is a 'TRUE' response to 'Did you rely on the group ratio test?' then, information must be completed at 'tax-EBITDA' and 'Group ratio test'(with at-least two GR Group members with the highest EBITDA).

The Response at 'Did you rely on the third party debt test?' must also be 'FALSE'.

From 2024

Thin capitalisation information required.

If 'Entity type code for the income year' is equal to '6' or '7' and there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?, and 'Entity type code at the end of the income year' is '7' or '8', then a response must be provided to the following questions.

- Average values calculation method code

- Debt deductions

- Debt deductions on debt from related non-residents

- Amount of debt deduction disallowed

- Interest income and other amounts covered by paragraph 820-50(3)(b)

- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents

- Were you an Authorised Deposit-taking Institution (ADI) for the income year?

- Did you rely on arm's length tests?

- Did you rely on worldwide gearing debt/capital tests?

From 2024

Thin capitalisation information required.

If there is a TRUE response to 'Certain special purpose entities' then a TRUE response must be provided at 'Were you, or member of your tax consolidated group, a special purpose vehicle subject to section 820-39 of the ITAA 1997?' and a response is required at the following questions.

-Debt deductions

-Debt deductions on debt from related non-residents

-Average debt amount

-Interest income and other amounts covered by paragraph 820-50(3)(b)

-Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents.

From 2024

The response to 'Were you an Authorised Deposit-taking Institution (ADI) for the income year?' must be TRUE.

If 'Entity type code for the income year' is equal to '4' or '5', then the response to 'Were you an Authorised Deposit-taking Institution (ADI) for the income year?' must be TRUE.

From 2024

The response to 'Did you rely on the group ratio test?' must be FALSE.

If there is a TRUE response to 'Did you rely on the third party debt test?' then the response to 'Did you rely on the group ratio test?' must be FALSE.

From 2024

The response to 'Were you a non-ADI for the income year?' must be TRUE.

If 'Entity type code for the income year' is equal to '6' or '7', and a FALSE response is provided at 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2024 apply to you in the income year?' and 'Entity type code at the end of the income year' is '1', '3', '5', or '9' then the response to 'Were you a non-ADI for the income year?' must be TRUE.

From 2024

The response to Were you an investing financial entity non-ADI for the income year? must be TRUE.

If 'Entity type code for the income year' is equal to '2' or '3' then the response to 'Were you an investing financial entity non-ADI for the income year?' must be TRUE and 'Were you a non-Authorised Deposit-taking Institution (non-ADI) for the income year?' must be FALSE.

From 2024

Financial entity type code must not be provided.

If 'Entity type code for the income year' is not equal to '2' or '3', then 'Financial entity type code' must not be provided.

From 2024

ADI fields must be provided.

If 'Entity type code for the income year' is equal to '4' or '5'(ADI) and there is a TRUE response to 'Did you rely on worldwide gearing debt/capital tests?', then labels under 'ADI' must be provided.

From 2024

Non-ADI fields must be provided.

If 'Entity type code for the income year' is equal to '2' or '3'(non-ADI) and there is a TRUE response to 'Did you rely on worldwide gearing debt/capital tests?', then labels under 'Non-ADI' must be provided.

From 2024

Non-ADI fields must be provided.

If 'Entity type code for the income year' is equal to '6' or '7' and there is a TRUE response to 'Did you rely on worldwide gearing debt/capital tests?' and 'Entity type code at the end of the income year' is equal to '1', '2', '3', '4', '5', '6', '9' or '10', then labels under 'Non-ADI' must be provided.

From 2024

ADI fields must be provided.

If 'Entity type code for the income year' is equal to '6' or '7' and there is a TRUE response to 'Did you rely on worldwide gearing debt/capital tests?' and 'Entity type code at the end of the income year' is equal to '7' or '8', then labels under 'ADI' must be provided.

From 2024

Debt deductions in earning non-assessable non-exempt foreign income claimed amount incorrect.

If there is a TRUE response to 'Were the thin capitalisation rules applicable to you?' and there is an amount greater than zero at 'Debt deductions in earning non-assessable non-exempt foreign income claimed', then it must be less than or equal to 'Debt deductions'.

From 2024

GR Group members with the highest entity EBITDA information required.

If the response at 'Number of GR group members' is less than or equal to three, then the occurrence of 'GR Group members with the highest entity EBITDA' information must match with the response at 'Number of GR group members'.

From 2024

GR Group members with the highest entity EBITDA information required.

If the response at 'Number of GR group members' is greater than three, then three occurrences of 'GR Group members with the highest entity EBITDA' information must be completed.

From 2024

Entity type code for the income year must be '2' or '3'.

If 'Financial entity type code' is provided and there is an amount greater than zero at any of the following labels, then 'Entity type code for the income year' must be '2' or '3'.
- Financial entity - Average zero capital amount
- Financial entity - Average on-lent amount
- Investing financial entity - non-ADI - Average zero capital amount
- Investing financial entity - non-ADI - Average on-lent amount.

From 2024

Entity type code for the income year must be '4' or '5'.

If there is an amount greater than zero at 'All ADI entities - (Adjusted) average equity capital' and there is a TRUE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?', then 'Entity type code for the income year' must be '4' or '5'.

Entity type code for the income year must be '6' or '7'.

If there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' and there is a TRUE response to 'Were you a non-Authorised Deposit-taking Institution (non-ADI) for the income year?' and 'Financial entity type code' is not provided, then 'Entity type code for the income year' must be '6' or '7'.

From 2024

Special Purpose Vehicle - Debt deductions on debt from related non-residents amount incorrect.

If there is an amount greater than zero at 'Debt deductions on debt from related non-residents', then it must be less than or equal to 'Debt deductions'.

From 2024

Thin capitalisation information required for June balancer financial entity non-ADIs.

If 'Entity type code for the income year' is equal to '2' or '3' and there is an amount greater than zero at any of the following labels, then the response to 'Were you an investing financial entity non-authorised deposit taking institution (non-ADI) for the income year?' must be TRUE.
- Investing financial entity - non-ADI - Average value of assets
- Investing financial entity - non-ADI - Asset revaluation amount for thin capitalisation purposes
- Investing financial entity - non-ADI - Safe harbour debt amount
- Investing financial entity - non-ADI - Excess debt amount
- Investing financial entity - non-ADI - Average value of non-debt liabilities
- Investing financial entity - non-ADI - Average value of associate entity debt
- Investing financial entity - non-ADI - Average value of associate entity equity
- Investing financial entity - non-ADI - Average value of associate entity excess amount
- Investing financial entity - non-ADI - Average value of excluded equity interests
- Investing financial entity - non-ADI - Average zero capital amount
- Investing financial entity - non-ADI - Average on-lent amount
- Outward investing entity - Average value of controlled foreign entity equity
- Outward investing entity - Average value of controlled foreign entity debt.

The response to Did you rely on arm's length tests? question must be TRUE.

If there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' and 'Arm's length debt (non-ADI) amount' is provided, then the response to 'Did you rely on arm's length tests?' must be TRUE.

The response to Did you rely on arm's length tests? question must be FALSE.

If there is a TRUE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' then the response to 'Did you rely on arm's length tests?' must be FALSE.

Arm's length debt (non-ADI) amount must be provided.

If there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' and there is a TRUE response to 'Did you rely on arm's length tests?', then 'Arm's length debt (non-ADI) amount' must be provided.

The response to 'Did you rely on the arm's length capital test?' question must be TRUE.

If there is a TRUE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' and 'Provide your arm's length capital amount' is provided, then the response to 'Did you rely on the arm's length capital test?' must be TRUE.

From 2024

Thin capitalisation information required.

If there is a TRUE response to 'Did you rely on the group ratio test?', then the following labels must be provided.
- Modified Taxable income or loss
- Net debt deductions
- Modified depreciation and forestry costs
- Excess tax EBITDA amount
- Tax EBITDA
- Fixed ratio earnings limit
- Total disregarded amounts.

From 2024

The response to 'Did you rely on the group ratio test?' question must be TRUE.

If any of the following labels are provided, then the response to 'Did you rely on the group ratio test?' must be TRUE.
- GR group net third party interest expense
- GR group net profit (disregarding tax expenses)
- GR group adjusted net third party interest expense
- GR group depreciation & amortisation expenses
- GR group EBITDA
- Group ratio
- Group ratio earnings limit.

From 2024

The response to 'Did you rely on the third party debt test?' question must be TRUE.

If there is an amount greater than zero at 'Third party earnings limit', then the response to 'Did you rely on the third party debt test?' must be TRUE.

From 2024

Name of GR group member cannot be the same.

Name of GR group member must be unique.

The response to thin capitalisation amendments applicable question must be answered.

If 'Entity type code for the income year' is equal to '2' or '3' and 'Financial entity type code' is equal to 'b', 'c' or 'd', then a response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' must be provided.

The response to thin capitalisation amendments applicable question must be answered.

If 'Entity type code for the income year' is provided, then a response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' must be provided.

Adjusted Average Debt must be provided.

If 'Entity type code for the income year' is equal to '1', '2' or '3', then 'Adjusted Average Debt' must be provided.

Thin capitalisation information required.

If there is a FALSE response to 'Did the thin capitalisation amendments in the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024 apply to you in the income year?' and 'Entity type code at the end of your income year' is '11' then a response must be provided to the following questions and/or labels.
- Did you change your entity status from 'general' to 'financial' during the income year?
- Average values calculation method code
- Debt deductions
- Debt deductions on debt from related non-residents
- Amount of debt deduction disallowed
- Adjusted average debt
- Interest income and other amounts covered by paragraph 820-50(3)(b)
- Interest income and other amounts covered by paragraph 820-50(3)(b) derived from related non-residents.

From 2024

Financial services entities information not required

If there is a FALSE response to 'Are you a foreign bank or other qualifying financial entity that has not elected out of Part IIIB of the ITAA 1936?', then amounts under sections 160ZZZ, 160ZZZA, 160ZZZJ, 160ZZZE or 160ZZZF must not be completed.

From 2024

Financial services entities information required

If there is a TRUE response to 'Are you a foreign bank or other qualifying financial entity that has not elected out of Part IIIB of the ITAA 1936?', then amounts under sections 160ZZZ, 160ZZZA, 160ZZZJ, 160ZZZE and 160ZZZF must be completed.

2021 and prior years:

Amount of debt deduction disallowed is required.

If 'What was your entity type at the end of the income year?' code is present, the Amount of debt deduction disallowed is required.

If there is no debt deduction disallowed calculated, enter zero.

Check spouse's income for correct calculation of Medicare levy reduction.

Check the entry at Your spouse's taxed element of a superannuation lump sum at which zero tax rate.

If the spouse received a lump sum that includes the low rate cap, this label must be completed in order to correctly calculate the Medicare levy reduction.

Check reportable employer superannuation contributions, as MLS liability may be incurred.

Check compulsory super contributions have not been included in Reportable employer superannuation contributions in the Income test section.

Some reportable employer superannuation contributions are incorrectly reported on payment summaries; these amounts are generally salary sacrifice super contributions only.

Incorrect reporting may cause a Medicare levy surcharge liability.

Current postal address state and postcode are required for Australian addresses.

State, postcode and country are required in the Current postal address field.

Account name contains invalid text.

A valid text character can be a letter, a numeral, a space or one of the following characters: & * ( ) - ' /

Net non-primary production income/loss amount is incorrect.

The amount provided at Non-primary production – Net income or loss from business amount must equal the sum of:

• net income or loss from carrying on a business or investing
• net income or loss from carrying on a rental property business
• other income or loss relating to net income or loss from business.  

Share of net income from trusts less capital gains, foreign income and franked distributions is invalid.

When a Share of net income from trusts less capital gains, foreign income and franked distributions action code is present, an amount above zero is required at Share of net income from trusts less capital gains, foreign income and franked distributions.

Foreign income tax offset must be less than total foreign income.

Foreign income tax offset must be less than the sum of:

• total current year capital gains
• CFC income
• transferor trust income
• other net foreign employment income
• net foreign pension or annuity income without an undeducted purchase price
• net foreign pension or annuity income with an undeducted purchase price
• net foreign rent
• other net foreign source income
• net foreign employment income – payment summary
• primary production deferred losses
• non-primary production deferred losses.  

Net non-primary production income/loss is incorrect.

Non-primary production – Net income or loss from business must equal to:

• Non-primary production – net income or loss from business this year, less
• Non-primary production – deferred non-commercial losses from a prior year.  

Total income or loss field is incorrect.

The total of all income fields must equal the amount at Total income or loss.

Enter number of days NOT liable for Medicare levy surcharge.

Where the taxpayer and their dependants have not been covered by private patient hospital cover for the entire income year, Number of days not liable for surcharge must be provided.

Incorrect value for number of days not liable for Medicare levy surcharge.

If private patient hospital cover has been retained for the whole year, Number of days not liable for surcharge must be blank or a valid accounting period.

Tax claim code is required.

When any private health insurance policy details have been completed, a Tax claim code must be present.

Bank account details have not been completed. Any refund due may be delayed.

Complete financial institution details.

Taxpayer daytime contact details must be provided.

You must include either the taxpayer's daytime or mobile phone number.

Adjusted taxable income is incorrect.

Adjusted taxable income must include:

• taxable income (assessable income minus deductions)
• adjusted fringe benefits amount (total reportable fringe benefits amounts × 0.53)
• tax-free government pensions or benefits
• target foreign income
• reportable super contributions (includes both reportable employer super contributions and deductible personal super contributions)
• total net investment loss (includes both net financial investment loss and net rental property loss)
• child support paid. 

Questions relating to the full individual return form must be answered.

When the Income tax return type is not provided (implying that the return is to be treated as a full Individual return), all of the following questions must be answered:

• 'Did you have a capital gains tax event during the year?'
• 'Did you have either a direct or indirect interest in a controlled foreign company (CFC)?'
• 'Have you ever, either directly or indirectly, caused the transfer of property (including money) or services to a non-resident trust estate?'
• 'During the year did you own, or had interest in, assets located outside Australia with total value of AUD $50,000 or more?' 

Dividend amounts for the application for the refund of franking credits have not been provided.

When the Income tax return type is provided (implying the return is to be treated as a short Individual return), one or more of the following must be provided at Dividends:

• unfranked amount
• franked amount
• franking credit
• tax file number amounts withheld from dividends. 

Check reportable employer superannuation contributions as SPO entitlement may be impacted.

Check that compulsory super contributions have not been included in Reportable employer superannuation contributions in the income test section.

Some reportable employer superannuation contributions are incorrectly reported on payment summaries; these amounts are generally salary sacrifice super contributions only. Incorrect reporting will result in reduced Senior and pensioner offset entitlement.

Check spouse's income for senior and pensioner tax offset.

If a seniors and pensioners tax offset claim code is present, check if spouse details are required.

Check deductible personal superannuation contributions.

Rebate income is used to determine eligibility for the Seniors and pensioners tax offset.

Where applicable, complete deductible Personal superannuation contributions in the Supplementary section.

Check private health insurance details from policy statement.

In Private health insurance policy details, the amounts shown on the statement at Your premiums eligible for Australian Government rebate and Your Australian Government rebate received must be entered.

Spouse details required.

Spouse details are required, where the private health insurance tax claim code shows there was a spouse during the income year.

Check spouse income from payment summaries.

In claiming the Superannuation contributions on behalf of your spouse tax offset in the Supplementary section, if the taxpayer's spouse has reportable fringe benefits amounts or reportable employer superannuation contributions on their payment summaries, complete Spouse details – married or de facto on the tax return.

Check net capital gains and net capital losses carried forward relate to collectables.

Check that Net capital gains and Net capital losses carried forward to later income years relate to collectables.

Primary production averaging will be applied as there is a zero at one or more of the labels.

Primary production averaging will be applied to this assessment as there is a zero at one or more of the primary production labels:

• Distribution from partnerships
• Share of net income from trusts
• Related deductions
• Net income or loss from business
• Net farm management deposits or repayments.

These labels may have been completed as a result of information supplied in the main partnership or trust returns or the business income and expense labels.

If primary production averaging does not apply to this assessment, primary production labels must be left blank.

A zero at Share of net income from trusts is acceptable, where the beneficiary is presently entitled to the income of a trust that is carrying on a primary production business that resulted in a loss.

Check tax free pension amounts.

Ensure only tax-free pensions paid by Centrelink or Department of Veterans Affairs are included in tax-free government pensions; and not taxable payments shown at:

• Australian Government allowances and payments
• Australian Government pensions and allowances
• Australian annuities and superannuation income streams.  

Check reportable employer superannuation contributions.

Check that compulsory super contributions have not been included in Reportable employer superannuation contributions in the income test section.

Some reportable employer superannuation contributions are incorrectly reported on payment summaries; these amounts are generally salary sacrifice super contributions only.

Check completion of government super contributions.

Government super contributions (Item A3) fields do not need to be completed for low income super contribution purposes, unless employment or business income relating to an earlier income year has been disclosed at either:

• Salary and wages
• Allowances, earnings, tips, director's fees
• Total assessable discount amount
• Total reportable fringe benefits amount
• Reportable employer superannuation contributions
• Business income and expenses.  

Government super contribution fields may need to be completed.

Government super contributions fields may need to be completed for low income super contribution purposes, where employment or business income relating to an earlier income year has been disclosed for any of the following:

• salary and wages
• allowances, earnings, tips, director's fees
• total assessable discount amount
• total reportable fringe benefits amount
• reportable employer superannuation contributions
• business income and expenses. 

Work related expense deductions can only be claimed, if salary or allowance income is declared

Work related expense deductions can only be claimed, if income is declared at either:

• salary and wages
• allowances, earnings, tips, director's fees.  

Total business or personal services income, and description of main business activity are required.

Where an Industry code is present, there must be either:

• description of main business or professional activity
• amounts at primary production or non-primary production income in Business income and expenses
• net personal services income.  

'Business loss activity – description of activity' is required.

Business loss activity details (Item P9) must be present, when either of the following are present:

• a loss amount for primary production business income, non-primary production business income
• net personal services income.  

'Business loss activity – description of activity' is required.

Description of activity (Label D) at Business loss activity (Item P9) must be provided, when a loss has been entered at either:

• distribution from partnerships
• distribution from partnerships less foreign income.  

Net rental property loss is incorrect.

If the total of Net rental property income less Net rental property deductions is less than zero, the difference must be inserted at Net rental property loss.

If the difference exceeds zero, then zero must be entered at Net rental property loss.

Main salary or wage occupation description and Occupation code must be provided.

The Main salary or wage occupation description and Occupation code must be provided when either of the following apply.

• The payer's ABN or payer's – withholder payer number are present.
• There are positive amounts for any of the following:  
  • gross income
  • work related car expenses
  • work related travel expenses
  • work related uniform, occupation specific or protective clothing, laundry and dry-cleaning expenses
  • work related self-education expenses
  • other work-related expenses. 

Gross income, ABN/WPN or work-related expense deductions must be provided.

When the Main salary or wage occupation description or Occupation code are present, Gross income amount must be completed, along with, either:

• payer's ABN or payer's – withholder payer number
• a positive amount for either        
  • work-related car expenses
  • work-related travel expenses
  • work-related uniform, occupation specific or protective clothing, laundry and dry cleaning expenses
  • work-related self-education expenses
  • other work-related expenses. 

Check completion of government super contributions.

Government super contributions should be completed where a low income super contribution or a co-contribution may be entitled, so any business partnership income will be recorded as business income.

The sum of deferred losses must equal total deferred losses.

Your share of deferred losses from partnership activities (Item 16 Label F) plus Deferred losses from sole trader activities, must equal the sum of primary and non-primary production deferred losses.

Response to 'Did you receive any personal service Income?' is required.

A response is required for 'Did you receive any personal service income?', when there are amounts at any of the following:

• total expenses non-primary production
• total expenses primary production
• net income or loss from business this year non-primary production
• net income from business this year primary production. 

Had spouse for the full year must be answered.

The question, 'Did you have a spouse for the full year?', must be answered when details have been provided for any of the following:

• spouse's date of birth
• spouse details – date you had a spouse from
• spouse details – date you had a spouse to
• amount of any Australian Government pensions and allowances received by your spouse in the year of the return
• your spouse's adjustable tax income total amount.  

Check criteria for the completion of government super contributions.

Where adjusted taxable income exceeds $37,000, low income super contribution will not be permitted.

As the taxable income is $53,564 or less, government super contributions should only be completed where a personal contribution is made to the super fund, for which a deduction was not claimed.

Check completion of government super contributions.

As the estimated total income is below $38,564, there is no need to complete government super contributions for either co-contribution or low income super contribution purposes.

This is unless employment or business income relating to an earlier income year has been disclosed for:

• salary or wages
• allowances, earnings, tips, director's fees
• total assessable discount amount
• total reportable fringe benefits amount from employers exempt under section 57A
• total reportable fringe benefits amount from employers not exempt under section 57A Reportable employer superannuation contributions
• business income and expenses.  

Total business income amount required.

If the business name of main business or business address of main business is present, the total business income (primary production or non-primary production) is required at Business income and expenses.

Product ruling year and number details are required.

When either Product ruling year or product ruling number have been provided, both fields must be completed.

Check claim for work related clothing and/or laundry expenses

Check claim for work related clothing and/or laundry expenses, information may be missing or incorrect.

Income from investment, partnership and other sources indicator is required.

When Income from investment, partnership and other sources is zero or not provided, the Income from investment, partnership and other sources indicator must be yes.

Check Australian superannuation income stream amounts.

Check tax withheld from Australian annuities and superannuation income streams and Australian superannuation income stream offset.

The taxpayer is older than 61 years and Australian annuities and superannuation income stream untaxed elements are present.

The tax-free components or the taxed elements of Australian superannuation income streams may have been incorrectly entered as an untaxed element.

Check tax withheld against income.

Check the tax withheld, as the amount is greater than or equal to the sum of income amounts from salary and wages attributed to personal services income.

No income or deduction amounts present. Is this a nil return?

Check income or deduction amounts if the tax return is not intended to report nil.

Check the tax withheld amount matches total tax withheld from the PAYG SLS summary.

Check the following:

• the tax withheld amount matches total tax withheld from the PAYG superannuation lump sum summary
• the payment is from a taxed or untaxed element
• the taxpayer's age when payment was received.  

Check the tax withheld amount matches total tax withheld from the PAYG SLS summary.

Check the following:

• the tax withheld amount matches total tax withheld from the PAYG superannuation lump sum summary
• the payment is from a taxed or untaxed element
• the taxpayer's age when payment was received.  

Check the tax withheld amount matches total tax withheld from the PAYG SLS summary.

Check the following:

• the tax withheld amount matches total tax withheld from the PAYG superannuation lump sum summary
• the payment is from a taxed or untaxed element
• the taxpayer's age when payment was received.  

Check deductible personal superannuation contributions.

Income for surcharge purposes is used to determine, if the taxpayer is liable for Medicare levy surcharge.

Where applicable, complete deductible Personal superannuation contributions in the Supplementary section.

Invalid or incomplete BSB details provided.

The BSB must be for a valid Australian bank account and include numerical characters only.

Tax losses carried forward to later income years, Total is not equal to Part F Label J.

The total of Tax losses carried forward to later income years (Part A) must equal to Part F Label J.

Answer to changeover time question is required.

A response must be provided to 'Has a changeover time occurred in relation to the company?'.

Key financial information amounts and/or business and professional amounts must be present.

If Net income or loss from business (where primary production or non-primary production is present), there must be an amount included under either:

• assets, liabilities or proprietors' funds
• business and professional items. 

Distribution of PP income cannot exceed net PP income.

The amount of primary production income in the distribution statement is greater than:

• income or loss from a business – net primary production income, plus
• primary production Distribution from partnerships, plus
• primary production Share of net income from trusts, less
• primary production deductions relating to distribution.  

Net rental income must equal the sum of all partners' share of net rental income.

The amount at Net rental property income or loss must equal the sum of all amounts recorded in the Statement of distribution – Share of net rental property income or loss.

Net Australian income/loss must equal total distributed PP, non-PP income and Franked distributions.

In all Statements of distribution and Franked distributions, the Net Australian income/loss amount must equal the sum of both:

• share of income – primary production
• share of income – non-primary production.  

Partner distribution amounts are missing or have a value of zero.

For each partner listed in the Statement of distribution, there must be an amount value greater than zero for the following fields:

• share of income –primary production
• share of income – non-primary production
• franked distributions
• franking credit
• TFN amounts withheld
• Australian franking credits from a New Zealand company.

For remaining fields where the amount is nil, zero should be entered at the relevant label.

Net small business income is incorrect.

The sum of Share of net small business income in the Distribution statement cannot be greater than Net small business income.

The indicated aggregated turnover is incorrect.

With an indicated Aggregated turnover of less than $20 million, the Aggregated turnover must be present and less than $20 million.

The non-individuals only section – trusts and partnerships cannot be populated.

When the Entity type code is equal to 117 (for individuals), none of the fields in the Non-individuals only section – trusts and partnerships should be populated.

Total member closing account balances must equal the sum of all members' closing balances.

Check Total member closing account balances to make sure it equals the sum of Closing account balance amounts for all members.

Exempt current pension income cannot be greater than gross income.

Exempt current pension income cannot be greater than Gross income, less all of the following:

• transfers from foreign funds
• assessable contributions
• assessable income due to changed tax status of fund
• net non-arm's length income.  

Income stream payment code is required.

If an Income stream payment is provided, an Income stream payment code is required.

If fund has exempt income, then it must have non-deductible expenses.

If Exempt current pension income is greater than zero, then details of Deductions and non-deductible expenses must be provided.

Tax on No-TFN-quoted contributions must be supplied.

A figure must be supplied at Tax on No-TFN-quoted contributions.

No-TFN-quoted contributions must be supplied.

A value must be included in the field, even if the value is zero.

A figure must be supplied at No-TFN-quoted contributions, even if the value is zero.

Net trust income must equal distributed income.

If the overall net trust income (the sum of net Australian income/loss, net capital gains, attributed foreign income, other assessable foreign source income; minus allowable tax losses of earlier income years deducted this year) is greater than zero, then the sum of the income amounts in the Statements of distribution must equal the overall net trust income.

Business and professional items amounts must be present.

If Net income or loss from business is present under Business income and expenses, then at least one Business and professional items amount must be present.

Franking credits must not be present when the trust has zero net income or incurs an overall loss.

If there is an overall trust loss (the sum of net Australian income/loss, net capital gains, attributed foreign income, other assessable foreign source income; minus allowable tax losses) is less than or equal to zero, then the Franking credits and Australian franking credits from a NZ company must not be present in a Statement of distribution.

Franking credits cannot be distributed, when there is an overall trust loss.

Delete the franking credits from the Statement of distribution.

Foreign income tax offsets amount must equal distributed amounts.

If the overall net trust income is greater than zero (the sum of net Australian income/loss, net capital gains, attributed foreign income, other assessable foreign source income; minus allowable tax losses), then the sum of Foreign income tax offsets in the Statements of Distribution, including 'Income to which no beneficiary is presently entitled', must equal the Foreign income tax offsets of the trust.

Current business address required for non-individual beneficiary.

A current business address must be present for the non-individual beneficiary on the Statement of distribution.

Current residential address required for individual beneficiary.

A current residential address must be present for the individual beneficiary on the Statement of distribution.

Share of income of the trust estate is incorrect.

The sum of Share of income of the trust estate (beneficiary entitled) and (no beneficiary entitled) must equal the Income of the trust estate amount.

Each statement of distribution must contain distribution amounts.

A Statement of distribution must include an amount against at least one of:

• primary production income
• non-primary production income
• franked distributions
• franking credit
• TFN amounts withheld
• Australian franking credit from a New Zealand franking company
• TB statement – tax preferred amounts
• TB statement – untaxed part of share of net income. 

Response to TOFA question required.

If there is a yes response to 'Are you subject to the Taxation of Financial Arrangements rules contained in Division 230 of the ITAA 1997?' on the International Dealings Schedule, there must also be a yes response to 'Did you make a gain, loss or balancing adjustment from a financial arrangement subject to the TOFA rules?' on the trust return.

PP – Share of net income from trusts amount must be greater than zero if action code is present.

If the Primary production – Share of net income from trusts action code is present, the Primary production – Share of net income from trusts must be greater than zero.

An action code is not required for negative or zero amounts.

Non-resident trust income amount must not be present.

If the answer to 'Is the trust a non-resident trust?' is no, do not enter an amount.

If yes, state the amount of income derived outside Australia to which no beneficiary is presently entitled'.