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

Updated over 2 weeks ago

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.
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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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