V2700 - V2799
V2710
Exempt current pension income labels not required.
Explanation | If the response to Did the fund pay an income stream to one or more members in the income year? is 'No' then Exempt current pension income amount and Which method did you use to calculate your exempt current pension income? are not required. |
Form Type | MS |
V2716
Total assessable income is required.
Explanation | If there is a 'Yes' response at Did the fund have any other income that was assessable? then Total assessable income (Label V) must be present. |
Form Type | MS |
V2717
Check Gross Income.
Explanation | If the amount at Exempt current pension income amount (Label A) is equal to the amount at Gross Income (Label W), reduce all item 11 income amounts to zero. |
Form Type | MS |
V2719
Did the fund have a loan to, lease to or investment in, related parties (known as in-house assets) at the end of the income year? amount is required.
Explanation | If the response to Did the fund have a loan to, lease to or investment in, related parties (known as in-house assets) at the end of the income year? (Label A) is 'Yes', then Did the fund have a loan to, lease to or investment in, related parties (known as in-house assets) at the end of the income year? amount is required. |
Form Type | MS |
V2721
All Income Tests labels from IT1 to IT7 must be completed.
Explanation | A zero must be entered if there is no amount present in any of the labels from item IT1 label N to item IT7 label Z. |
Form Type | EI |
V2722
Check Exempt current pension income.
Explanation | If a 'Yes' response has been given at 'Did the fund have any other income that was assessable?' then an amount is required at Exempt current pension income (Label Y), which must be equal to the amount at Exempt current pension income amount (Label A). |
Form Type | MS |
V2726A
Check Net Financial Investment loss.
Explanation | If the total of financial investment income less financial investment deductions is less than zero then the difference must be inserted at IT5. If the difference is greater than zero then zero must be inserted at IT5. |
Form Type | EI |
V2727
Check Net Rental Property loss is incorrect.
Explanation | If the total of Net rental property income less Net rental property deductions is less than zero then the difference must be inserted at IT6. If the difference is greater than zero then zero must be inserted at IT6. |
Form Type | EI |
V2728
Date pension phase or benefit phase commenced not required.
Explanation | If Account phase code is 'A' then Date pension phase or benefit phase commenced is not required. |
Form Type | S |
V2729
Date pension phase or benefit phase commenced is required.
Explanation | If Account phase code is 'P' or 'B' then Date pension phase or benefit phase commenced is required. |
Form Type | S |
V2732
Low value pool deduction amount is incorrect.
Explanation | Addition of sub-labels for Low value pool deduction amount is not equal to the amount of Low value pool deduction at main label. |
Form Type | EI |
V2733
Non-PP - Distribution from partnerships less foreign income amount is incorrect.
Explanation | Addition of sub-labels for Non-PP - Distribution from partnerships less foreign income amount is not equal to the amount of Non-PP - Distribution from partnerships less foreign income at main label. |
Form Type | EI |
V2734
Share of net income from trusts less capital gains, foreign income and franked distributions amount is incorrect.
Explanation | Addition of sub-labels for Non-PP - Share of net income from trusts less capital gains, foreign income and franked distributions amount is not equal to the amount of Non-PP - Share of net income from trusts less capital gains, foreign income and franked distributions at main label. |
Form Type | EI |
V2735
Franked distributions from trusts amount is incorrect.
Explanation | Addition of sub-labels for Franked distributions from trusts amount is not equal to the amount of Franked distributions from trusts at main label. |
Form Type | EI |
V2736
Other deductions relating to amounts shown at O, U and C amount is incorrect.
Explanation | Addition of sub-labels for Non-PP - Other deductions relating to amounts shown at O, U and C amount is not equal to the amount of Non-PP - Other deductions relating to amounts shown at O, U and C at main label. |
Form Type | EI |
V2737
Net non-PP income/loss amount is incorrect.
Explanation | Addition of sub-labels for Net non-PP income/loss amount is not equal to the amount of Net non-PP income/loss at main label. |
Form Type | EI |
V2738
Your share of deferred losses from partnership activities amount is incorrect.
Explanation | Addition of sub-labels for Your share of deferred losses from partnership activities amount is not equal to the amount of Your share of deferred losses from partnership activities at main label. |
Form Type | EI |
V2739
Deferred losses from sole trader activities amount is incorrect.
Explanation | Addition of sub-labels for Deferred losses from sole trader activities amount is not equal to the amount of Deferred losses from sole trader activities at main label. |
Form Type | EI |
V2740
Other net foreign source income amount is incorrect.
Explanation | Addition of sub-labels for Other net foreign source income amount is not equal to the amount of Other net foreign source income at main label. |
Form Type | EI |
V2741
Other income type - Category 1 - Amount is incorrect.
Explanation | Addition of sub-labels for Other income type - Category 1 - Amount is not equal to the amount of Other income type - Category 1 - Amount at main label. |
Form Type | EI |
V2742
Other income - Category 2 - Amount is incorrect.
Explanation | Addition of sub-labels for Other income type - Category 2 - Amount is not equal to the amount of Other income type - Category 2 - Amount at main label. |
Form Type | EI |
V2743
Other deductions amount is incorrect.
Explanation | Addition of sub-labels for Other deductions is not equal to the amount of Other deductions at main label. |
Form Type | EI |
V2744
Item must not be completed.
Explanation | The following items are valid for 2013 and subsequent financial years only: provider type, inward rollovers accepted, date of last contribution including rollovers, account phase, date pension phase or benefit payment phase commenced, insurance indicator, defined benefit interest, rollover requests from the member accepted, notional taxed contributions, defined benefits contributions. If the financial year is 2012 or prior these items must not be completed. |
Form Type | S |
V2745
Provider type required.
Explanation | If Financial year is 2013 or later then Provider type must be completed. |
Form Type | S |
V2746
Check Account status.
Explanation | Account status codes 'O' and 'L' are not valid for 2012 and prior financial years. |
Form Type | S |
V2747
Check Account status.
Explanation | Account status code 'A' is not valid for 2013 and subsequent financial years. |
Form Type | S |
V2748
Inward rollovers accepted required.
Explanation | If Financial year is 2013 or later then Inward rollovers accepted must be completed. |
Form Type | S |
V2749
Date of last contribution including rollovers required.
Explanation | If Financial year is 2013 or later then Date of last contribution including rollovers must be completed. |
Form Type | S |
V2750
Check Date of last contribution including rollovers.
Explanation | Date of last contribution including rollovers must be not be a future date. |
Form Type | S |
V2751
Account phase required.
Explanation | If Financial year is 2013 or later then Account phase must be completed. |
Form Type | S |
V2752
Insurance indicator required.
Explanation | If Financial year is 2013 or later then Insurance indicator must be completed. |
Form Type | S |
V2753
Defined benefit interest required.
Explanation | If Financial year is 2013 or later then Defined benefit interest must be completed. |
Form Type | S |
V2754
Rollover requests from the member accepted required.
Explanation | If Financial year is 2013 or later then Rollover requests from the member accepted must be completed. |
Form Type | S |
V2755
Employer contributed amount required.
Explanation | If Financial year is 2008 to 2012 then Employer contributed amount must be completed. |
Form Type | S |
V2756
Other family and friends contributions amount required.
Explanation | If Financial year is 2008 to 2012 then Other family and friends contributions amount must be completed. |
Form Type | S |
V2757
Directed termination payments (taxable component) amount required.
Explanation | If Financial year is 2008 to 2012 then Directed termination payments (taxable component) amount must be completed. |
Form Type | S |
V2758
Directed termination payments (taxable component) amount must not be completed.
Explanation | For 2013 and subsequent financial years the Directed termination payments (taxable component) amount must not be completed. |
Form Type | S |
V2759
Government super contributions incorrectly completed.
Explanation | Super co-contributions is not available because taxable income is more than $50,454 and low income super contribution is not available because adjusted taxable income is more than $37,000 so Government super contributions must not be completed. |
Form Type | EI |
V2761
Adjusted taxable income incorrect.
Explanation | Adjusted taxable income should be the sum of taxable income, items IT2 to IT6 plus the sum of IT1 multiplied by 0.510 plus D12 less IT7 and rounded down to the nearest dollar. If you are completing a tax return for a deceased person, this value should be divided by the number of days the taxpayer was alive during the financial year and multiplied by the number of days in the year. |
Form Type | EI |
V2762
Estimated total income incorrect.
Explanation | Estimated total income is incorrect. |
Form Type | EI |
V2763
Estimated eligible income incorrect.
Explanation | Estimated eligible income is incorrect. |
Form Type | EI |
V2764
Tax claim code missing.
Explanation | If any PHI policy details have been completed a Tax claim code must be present. |
Form Type | EI |
V2765
Supervisory levy adjustment for wound up funds must equal $259.
Explanation | If there is a 'Yes' response to 'Was the fund wound up during the income year' then amounts at (Label M) Supervisory adjustment for wound up funds must equal $259. |
Form Type | MS |
V2766
Supervisory levy adjustment for wound up funds amount not required.
Explanation | If there is a 'No' response to 'Was the fund wound up during the income year' then (Label M) Supervisory adjustment for wound up funds must not be completed. |
Form Type | MS |
V2767
Check 'Did the fund have any other income that was assessable?'.
Explanation | If the response to Did the fund pay an income stream to one or more members in the income year? is 'Yes' then a response to Did the fund have any other income that was assessable? is required. |
Form Type | MS |
V2768
Check account status code.
Explanation | If member date of death is present and member closing account balance not completed or equal to zero, then member account status code must be 'C'. |
Form Type | MS |
V2769
Check account status code.
Explanation | If member date of death is present and member closing account balance is greater than zero then member account status code must be 'O'. |
Form Type | MS |
V2770
Check account status code.
Explanation | If member date of death is not present and member outward rollovers and transfers (Label Q) or member lump sum payment (Label R1) or member income stream payment (Label R2) is greater than zero and member closing account balance (Label S) is not completed or equal to zero, then member account status code must be 'C'. |
Form Type | MS |
V2771
Check Exempt current pension income labels.
Explanation | If a 'Yes' response has been given at 'Did the fund have any other income that was assessable?' then an amount is required at Exempt current pension income (Label Y) and Exempt current pension income amount (Label A). |
Form Type | MS |
V2772
Check Exempt current pension income.
Explanation | If the response to 'Did the fund have any other income that was assessable?' (Label E) is 'No' then Exempt current pension income (Label Y) is not required. |
Form Type | MS |
V2773
Capital gains details incomplete.
Explanation | The net capital gain amount (Item 6 Label A) has been completed but no amounts have been entered at Total current year capital gains (Item 1 Label J), Total capital losses applied (Item 2 Label E), Total CGT discount applied (Item 4 Label A) or Total small business concessions applied (Item 5 Label D). |
Form Type | BW |
V2774
Electronic funds transfer details are required.
Explanation | A refund is expected for this return so you need to provide financial institution details including BSB, Account number and Account name. If neither you nor your client has a bank account please phone the Tax Office on 13 72 86 (fast key code 1312). |
Form Type | EB |
V2775
Part E item 2 question is incomplete.
Explanation | If you answered 'no' to question 'Do you have exempt entity ownership of 50% or greater?' (Part E item 1), you must complete the question 'Do you have an aggregated turnover of $20 million or greater?' (Part E item 2). |
Form Type | BY |
V2776
Electronic funds transfer details are required.
Explanation | A refund is expected for this return so you need to provide financial institution details including BSB, Account number and Account name. If neither you nor your client has a bank account please phone the Tax Office on 13 72 86 (fast key code 1312). |
Form Type | EC |
V2781
Number of days is incorrect.
Explanation | Number of days not liable for surcharge must not be more than the number of days in the year of the return. |
Form Type | EI |
V2782
Multiple RR report requests sent in transmission.
Explanation | A transmission can only contain one Tax Agent Report Request (RR). No other report request can be included. |
Form Type | RR |
V2783
Electronic funds transfer details are required.
Explanation | A refund is expected for this return so you need to provide financial institution details including BSB, Account number and Account name. If neither you nor your client has a bank account please phone the Tax Office on 13 72 86 (fast key code 1312). |
Form Type | EF |
V2787
Supervisory levy adjustment for new funds must equal $259.
Explanation | If there is a 'Yes' response to 'Is this the first required return for a newly registered SMSF' then the amount at Supervisory levy adjustment for new funds (Label N) must equal $259. |
Form Type | MS |
V2788
Check Supervisory levy adjustment for new funds.
Explanation | If there is a 'No' response to 'Is this the first required return for a newly registered SMSF' then Supervisory levy adjustment for new funds (Label N) must not be completed. |
Form Type | MS |
V2797
Your mobile phone number is incorrect.
Explanation | Your Australian mobile phone number should start with 04 and followed by 8 numeric characters. |
Form Type | EI |