INCDTLS.000160: Total net capital gain from manged fund must be provided. Total net capital gain from managed fund must be provided when a positive amount for Total current year capital gains from managed fund is present
INCDTLS.000167: Your share of net capital gain from managed fund must be provided. Your share of net capital gain from managed fund must be provided when a positive amount for Your share of current year capital gain from managed fund is present
INCDTLS.00168: Your share of net capital gain from managed fund is incorrect. Where the number of account holders is greater than 1, the Your share of current year capital gain from managed fund must not be less than Your share of net capital gain from managed fund.
To resolve the errors:
When completing the Capital gains section of the Managed funds worksheet, you will need to watch for rounding.
A: Net Capital Gains: Note: Field A must total the discount method (Field C) and Capital Gains Method (Field D) 35 + 30 = 65
B : Current year capital gains: Is the full value of the gain without discounts applied. Note: This field should equal field C multiplied by 2 plus field D if present. 35x2+ 30 =100
C: Discount Method: The Portion of current year capital gain applicable to Discount. 70/2 =35
Note for funds with more than 1 account holder:
Check ‘Your Share’ to ensure the above calculations are accurate