AE Tax 2020 Trust Return - Capital Works

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rohbrown
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AE Tax 2020 Trust Return - Capital Works

Hi,

I have an issue with Trust returns when entering a new or carry over from prior year items for a 'Capital Works Deductions' schedule and linked to the SBW Worksheet. The details from the BSW worksheet will not feed through to the 'Capital Works Deduction special building write off)' schedule itself.

 

Then if you remove the sbw schedule or mark it as no integration the 'Amount from sbw worksheet' shows the schedule figure as a negative!

 

Is this a known issue or other expericning it. It was fine last year.

 

 

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hj
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Re: AE Tax 2020 Trust Return - Capital Works

I have noted this for two Trusts and Partnership in the last two days - I believe this is only happening after the latest (3rd) hotfix to Tax 2020 a couple of days ago.

Sandy_C
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Re: AE Tax 2020 Trust Return - Capital Works

Hi @rohbrown and @hj 

 

Following the 2020.0b hotfix (with the new rental schedule), this has been raised as a known issue and escalated to our product development team. 

 

The following workaround applies:

Unintegrated the capital works deduction and manually entered the amount in the field 'Capital Works Deduction special building write off' in the rental schedule.

Many apologies for the inconvenient this will cause and hoping we can get this fixed as soon as possible.

 

Regards,

 

Sandy
Client Support Representative

hj
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Re: AE Tax 2020 Trust Return - Capital Works

Some follow ups to help anyone else reading:

- If a negative amount is flowing through, changing the write off rate from 2.5% to 0% and flowing through, then changing back to 2.5% should fix that issue.

- Returns which were completed before the hotfix will fail lodgement if they're a Trust or partnership as the distributed income won't match taxable income. ie this Hotfix is breaking complete returns! Companies may lodge incorrectly although we haven't had any to confirm. Hopefully MYOB can follow up and confirm this.

UnhappyUser1234
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Re: AE Tax 2020 Trust Return - Capital Works

Hi MYOB support,

 

I have noticed recently that duplicate amounts of "Capital Works Deductions" have been appearing in 2020 Trust Tax Returns with Rental Schedule.

 

Has this issue been reviewed & actioned upon yet? Seems other users have encountered the same issue back in Sep 2020!

Sandy_C
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Re: AE Tax 2020 Trust Return - Capital Works

Hi @UnhappyUser1234 

 

We haven't had any recent reports with regards to the capital works deductions figures doubling up and I'm unable to replicate it on my side after some testing.

I do know that the above query has since been resolved in the 2020.1 update (released on 3rd Dec 2020). 

 

If you are already on version 2020.1, please give us a call on 1300 555 666 - option 2,2,2,2 to discuss and investigate this further with one of our support members. We may need more information if this is occuring for multiple clients.

 

Regards,

 

Sandy
Client Support Representative

UnhappyUser1234
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Re: AE Tax 2020 Trust Return - Capital Works

Hi Sandy,

 

Thanks for your quick reply. The trust tax returns of which I encountered this issue were both commenced prior to 3 Dec 2020, so maybe that's why the duplicate amounts have appeared in the Capital Works (SBW) schedule.

 

I will keep an eye out for upcoming tax returns (trusts & partnerships) with Rental Schedules and linked SBW schedules to see if this issue appears again.

 

Cheers,

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