Correcting trust return distribution when MYOB Tax recalculates the foreign income tax offset (FITO)
This support note applies to:
AO Tax (AU)
AE Tax Series 6 & 8 (AU)
AE Tax (AU)
MYOB Tax recalculates the foreign income tax offset (FITO) after you've distributed it to the trust beneficiaries.
This changes the amount at item 23: label Z and makes the return invalid for PLS lodgment.
It happens when:
there's more than one beneficiary of the trust under a legal disability and
you've completed a foreign income worksheet (for) or
you've pressed F4 for an estimate of tax payable.
We don't have a workaround for an F4 estimate where there are:
multiple beneficiaries under a legal disability or
mixed distributions, for example, infant beneficiaries or non-resident beneficiaries or income to which no beneficiary is presently entitled.