Tax 2021.0 hotfix KB66322434 (Australia)

This hotfix is replaced by MYOB Tax 2021.0b SP2—Install guide and release notes (Australia). MYOB Tax 2021.0b SP2 includes the changes from this hotfix.

Release date—28 June 2021

This hotfix prevents incorrect data from being lodged with the ATO. We strongly recommend you install this hotfix.

Before installing this hotfix, you must have installed Tax 2021.0. The hotfix takes less than a minute to install.

If you've already installed Tax 2021.0 and created a 2021 tax return with a capital gains worksheet (prior year losses entered), make sure you check the returns after installing this hotfix. See below for the affected items and labels.

This hotfix release fixes the integration issues between the capital gains worksheet(with a prior year loss entered in 2021), with the main labels in the tax return and BW schedule.

Release notes

If you've completed a capital gains worksheet with a prior year capital loss, the amount was not integrating into the capital gains item in the main return.
If you've ticked Populate BW, then the amount does not populate capital gains schedule

Labels that might be affected:

Individual return: Item 18 Label V Net capital losses carried forward to later income years
Company return: Item 13 Label V Net capital losses carried forward to later income years
Trust return: Item 21 Label A Net capital gain, Item 27 Label V
Fund return: Item 13 Label V Net capital losses carried forward to later income years
SMSF return: Item 14 Label V Net capital losses carried forward to later income years
Capital gains tax schedule (BW)
- Item 2 (Capital losses) Label B (Total current year capital losses applied)
- Item 2 Label C Total prior year net capital losses applied on Capital gains
- Item 3 Label A Net capital losses from collectables carried forward to later income years
- Item 3 Label B Other net capital losses carried forward to later income years

Install guide

Follow the steps below to install the hotfix.

Prerequisites

You must have MYOB AE/AO version 5.4.38.101 installed and the Tax version is 2021.0
To check your current version, click Help on the main menu and select About.
Ensure you have administrator access to the server where MYOB AE/AO is installed.
Ensure all users are logged out of MYOB Tax.

Installing the hotfix

This hotfix is replaced by MYOB Tax 2021.0b SP2—Install guide and release notes (Australia). MYOB Tax 2021.0b SP2 includes the changes from this hotfix.

Go to my.MYOB and download the MYOB Tax Hotfix 66322434 - Installer file to your server location where you installed MYOB AE/AO.
Double-click the executable to start the installation.
In the Welcome to the InstallShield Wizard window, click Next.
Select I accept the terms in the licence agreement.
In Ready to install window, click Install to start the installation.
On the Install Completed window, click Finish.

This release does not require a workstation install

Post-installation steps

Make sure to follow the steps below after installing the hotfix

Confirm the version number

Open a 2021 tax return.
Select Help > About and Application details.
Check that the release date is 1 July 2021.

This release does not require a workstation install

Refresh the capital gains worksheet

In order for the capital gains data to integrate into the tax return after installing the hotfix, you need to refresh the capital gains worksheet.

If you use MYOB AE

You can refresh the capital gains worksheet in bulk or one return at a time.

To refresh the worksheet in bulk, see Performing Force RSD in Accountants Enterprise.
To refresh one worksheet at a time, see the steps below.

If you use MYOB AO

You can refresh the worksheet one at a time. See below for details

Open the tax return where you've created the capital gains worksheet.
Go to Preparation > Schedule.
Click Capital Gains worksheet (g). Click OK or press F6 to refresh and close out of the worksheet

MYOB INTERNAL STAFF ONLY

Insert PR#

SR#