When generating the Tax Return in Simple Invest 360, I have found that the figures do not flow through to the return or are populating incorrectly. How do I fix this?
This often occurs due to missing or incorrect Tax Labels. Please review the tax labels for the current financial year prior to preparing the year-end workflow.
Another reason may be due to missing or incorrect entity, relationship, and beneficiary details. Ensure these are entered in for the fund, prior to generating the Tax Return.
Ensure you have also set up a lodging party in Simple Invest 360:
- Adding a Lodging Party (Ensure the Entities that the tax return is being processed for, is attached to the lodging party)
- If the Lodging Party is a Trustee, ensure you have an ABN attached to the Entity Details.