Validation Error
This validation error occurs when there was been Limited Recourse Borrowing Arrangement amount has been added in the Tax Return, the Property Count in the Tax Return is either zero or empty.
How to resolve the Validation Error
To quickly resolve this validation error, simply add the number of properties that the SMSF holds in Section H - Assets and liabilities, Label J7.
Once entered, save and validate the Tax Return.
To prevent this issue from occurring again, follow these steps:
- Navigate to the Property Dashboard.
- Select the property from the Property Dashboard.
- Select "Report property count on annual return" so that it is blue with a tick, changes are saved automatically.