Hello, trying to validate a 2024 unit trust tax return and it's bringing up a validation error TRT 433088 Type of trust must be a deceased estate - Code 059.
It is not a deceased trust and all labels describing trust type (U), tax payable (N) and beneficiary codes (35) are correct, with none indicating a deceased estate is involved
Has anyone had this error and fixed it
Same issue.
Hi I don't know about MYOB but I faced the same issue in Xero and fixed it by answering NO in the "Will you make a TB statement?" question in the beneficiary statement.
This is now requiring a selection of YES/NO instead of just skipping.
Below is the answer from Xero Support.
Hope this helps.
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Based on your description and error code from the screenshot, CMN.ATO.TRT.433088, if assessment code 35 is used in the beneficiary statement, you will need to answer the question "Will you make a TB statement?".
If your answer is YES, you will need to fill up the following fields in the beneficiary schedule:
If your answer is NO, you'll need to make sure:
This error message is a new validation check for TRT 2024 and is working as designed. Could you please review all the beneficiary schedules and retry validating your return?
Hi Smartsteps!
The ATO have introduced this, TRT.433088 - Type of trust must be a 'deceased estate' - code '059' along with other new errors in a 2024 trust return.
To fix these errors, make sure you’ve completed:
The Family trust election or Interposed entity election status field on the Front Cover
or
the TB statement question on the Distribution statement.
For more information on the new validation errors within a 2024 trust return, please see the link below:
https://practice-support.myob.com/psinstall/myob-ae-ao-release-notes2024-0-australia
