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HandiTax - CGTS.402176 Small business active asset reduction in HandiTax

The ATO's validation ruling for Error: 'CGTS.402176' is generated when:​
The amount in the CGT Schedule at label 5A is greater than the amounts at label 1J minus label 2E minus label 4A multiplied by 0.5 +1, review these amounts to resolve the error.

The amount of small business active asset reduction should only be reported in the following fields

  1. In the Main form I, at Item 18, Label G and M, and enter Y.

    1. Code A lets the Australian Taxation Office know that it is a small business active asset reduction (Subdivision 152-C).

      Item 18 Capital Gains

  2. In the Capital Gain Tax (CGT) Schedule, label 5A, enter a value.

    Item 5 CGT Concessions

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