CMN.ATO.CTR.430021

Modified on: Wed, 10 Apr, 2024 at 10:18 AM

Error: CMN.ATO.CTR.430021 - Check depreciation expenses or deduction for decline in value of depreciating

To avoid keying/manual impute, we suggest to import financial or use our direct Excel Import and to avoid such error.

TABLE OF CONTENTS

This error should not be available for Import + Tools, because system auto fill the required boxes

This part is auto-filled

(no LodgeiT "Tools" impute)

Solution:

You will need to turn on "Depreciation" and report all relevant depreciable facts.

LodgeiT relies on the reported depreciable facts and adjusts out the accounting facts.

X = Depreciation expenses (from the imported financials)

Since, you do not have Depreciation schedule in LodgeiT "Tools" you will have this error-

Kindly, fill item "F" - Deduction for decline in value" manually, then it will copied via "Reconciliation" > Item F as well

Form should be "Valid"

(No Financial import or LodgeiT "Tools" impute)

Solution: Via "Depreication" tab, fill manually the "Deduction for decline in value"

Then, add back the accounting depreciation and less the tax depreciation

1. Click "Reconciliation"

2. Add $ 7,217 to "Non Deductible expenses" (W)

Form should be "Valid"

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