Support Query

CMN.ATO.SMSFAR.436560: If the fund paid an income stream, there must be an 'Exempt current pension income' amount - If response to the question 'Did the fund pay an income stream to one or more members in the income year?' is Yes under Section A: Question 10 of The SMSF Annual Return. 

Solution

This error is generated where a fund has paid an income stream (Pension) to member(s) of the fund and the fund has not recorded an amount of exempt current pension income (ECPI) during the year (the fund's only source of income is member specific contributions, for example).

A fund that has paid an income stream and has not recorded any ECPI under Section B: Label Y cannot be lodged electronically (manual lodgement only). Please Log a Support Call if you require further assistance.