Support Query
How does Simple Fund 360 calculate Exempt Current Pension Income (ECPI)?
Solution
Exempt Pension Income Reconciliation Report
The Exempt Pension Income Reconciliation Report has been added to assist you in reconciling ECPI amounts for all labels of Section B of the Annual Return. This report will provide ECPI findings for both unsegregated (Proportionate) and segregated funds.
ECPI is calculated using the following formula:
[Gross Income (W) - Assessable Contributions (R)] x Actuary Percentage = ECPI for the year.
The tax compliance screen can be used to determine these amounts.
| From the Main Toolbar navigate to the Compliance menu. |
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| Select Tax compliance. |
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Select the Financial Year.
Select Section B: Income.
The Amounts for Gross Income (W) and Assessable Contributions (R) can be found here.
The Actuary Percentage is entered into the Fund Pension Policies screen.
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