TRT.432179: Net trust income must equal distributed income. The overall net trust income is greater than zero (the sum of net Australian income/loss, net capital gains, attributed foreign income other assessable foreign source income minus allowable tax losses of earlier income years deducted this year) AND the sum of the income amounts in the distribution statement is not equal to the overall net trust income.
This SBR error relates to the total distributions to the beneficiaries.
To view the total values that can be distributed:
Remove all distribution fractions or percentages and remaining values from all beneficiaries.
In the first beneficiary use Distribution Fraction = 1.
Click Save Item. This will distribute the total values to each label.
Make a note of the values displayed on each label.
Now that you know the totals, you can remove the distribution fraction and distribute the correct values to each beneficiary, ensuring the overall values equal the total value noted previously.
If there are multiple beneficiaries, use Distribution Fraction = 1, in the last beneficiary to avoid any rounding issues.
Where you have no beneficiaries presently entitled, coupled with a Capital Gains amount at Label F, if this amount is also reported at Item 59 Label Y, please deduct this amount from Label F. This may reduce the value to 0 displayed at Label F.
Note: To ensure all beneficiary distribution values are calculated in the overall total, check that you do not have a Y at Use details for rollover purposes only?