Validation Error
The validation error CMN.ATO.SMSFAR.436654 occurs when an incorrect SMSF supervisory levy amount is reported in the fund’s tax return. This commonly happens when a fund is wound up during the financial year and the levy amounts are not adjusted correctly.to calculate the amount of SMSF supervisory levy that the SMSF must pay with the SMSF annual return.
How to resolve this Validation Error
To resolve this validation error, ensure the correct supervisory levy amounts are entered in the SMSF Tax Return based on the fund’s status for the relevant financial year.
Please Note
If the Wind Up Date has been entered within the Fund Details page, Simple Fund 360 will automatically remove the SMSF supervisory levy if applicable, after the create entries process has been completed.
The amounts required at Labels L, M, and N depend on whether the SMSF is existing, newly registered, or wound up.
| Type of SMSF | Amount at L | Amount at M | Amount at N | Net amount (L-M+N) | Comment |
| Existing SMSF that was not wound up during 2019–20 | $259 | $0 or blank | $0 or blank | $259 | The SMSF supervisory levy amount is for 2020–21. |
| Newly registered SMSF in 2019–20 that was not wound up in 2019–20 | $259 | $0 or blank | $259 | $518 | The SMSF supervisory levy amount is for 2019–20 and 2020–21. |
| Existing SMSF that was wound up in 2019–20 | $259 | $259 | $0 or blank | $0 | No SMSF supervisory levy is due. |
Steps to resolve the Validation Error
- Navigate to the SMSF Tax Return.
- Go to Section D - Income tax calculation statement.
- Review and update Labels L, M, and N based on the fund’s status, using the table above as a guide.
- Save and validate the Tax Return.