Individual Tax Return Error Report and Documentation Analysis

This assignment presents a detailed error report for an individual tax return (Form I). The report, generated on 26/10/2018, identifies numerous errors and warnings related to various aspects of the tax return, including missing information (declarer contact details, phone numbers, signature date, home address, and locality name), incorrect calculations (adjusted taxable income), and missing codes (ATO industrial classification code). Specific errors pertain to the Medicare levy, deductible superannuation contributions, and capital gains tax (CGT). The assignment requires an understanding of tax regulations to identify and correct these errors, ensuring the accuracy and completeness of the tax documentation. The report also highlights the need for accurate bank account details to avoid refund delays and emphasizes the importance of completing all required fields to avoid errors and warnings.

Detailed Error Report
Client : BROW0001 Mr James Brown
Form Type : I Form By: CIT188663 on 26/10/2018 (2018 v1.00)
FORM_I No 1
Error GEN.438070 Declarer contact name must be provided
(PersonUnstructuredName.FullName.Text[@contextRef='INT.TrueAndCorrect'])
If an Intermediary is present, Intermediary Declarer contact name must be provided.
Error GEN.438076 Contact telephone details must be provided
(ElectronicContact.Telephone.Minimal.Number[@contextRef='INT.TrueAndCorrect'])
If an Intermediary is present, Intermediary Declarer Telephone number must be provided.
Error GEN.438078 Declaration Signature Date is required
(Declaration.Signature.Date[@contextRef='INT.TrueAndCorrect'])
If an Intermediary is present, Intermediary Declarer Signature Date must be present.
Warning IITR.000004 Check spouse's income for correct calculation of Medicare levy reduction
Check spouse income label, 'Your spouse's taxed element of a SLS zero tax rate', if the
spouse received a lump sum which includes the low rate cap this label must be
completed to correctly calculate the Medicare levy reduction.
I_COVER No 1
Error IITR.000163 Home address - Suburb/Town must be provided
Error IITR.000198 Locality name must be present
FORM_I No 1
Error IITR.000205 Payment type required where employer lump sum payment amounts have been entered.
Error IITR.000502 Enter number of days NOT liable for Medicare levy surcharge
When it has been indicated that the taxpayer and their dependants have not been covered
by private patient hospital cover for the entire income year, the number of days not liable for
surcharge must be provided
Error IITR.000515 You and all your dependants covered by private patient hospital cover...' must be provided
I_COVER No 1
Warning IITR.000636 Bank Account Details have not been completed. Any refund due may be delayed.
Warning IITR.001054 Check taxpayer phone contact details
Neither the taxpayer's daytime phone number or mobile phone number have been provided
Error IITR.023015 Adjusted taxable income is incorrect
Adjusted taxable income must equal the sum of Taxable income or loss (when amount
above $0), Reportable employer superannuation contributions, Tax-free government
pensions, Target foreign income, Net financial investment loss, Net rental property loss,
and all Deduction claimed amounts, plus Total reportable fringe benefits amount from
employers not exempt under section 57A and 53.0% of Total reportable fringe benefits
amount from employers exempt under section 57A (when combined Total reportable
fringe benefits amount above $3,772), less Child support you paid. If you are completing a
tax return for a deceased person, this value must be divided by the number of days the
taxpayer was alive during the financial year and multiplied by the total number of days in
the financial year.
FORM_I No 1
Warning IITR.200033 Check deductible personal superannuation contributions
Income for surcharge purposes is used to determine if the taxpayer is liable for Medicare
Levy Surcharge. Where applicable, complete Deductible personal superannuation
contributions from the Supplementary section.
Error IITR.300030 ATO Australian and New Zealand Standard Industrial Classification code required
There are amounts reporting for either primary production or non-primary production
income in the Business income and expenses section, or Net Personal Services Income
is present however there is no Industry code
Error IITR.400078 Amounts not present must be provided or set to zero
When no amount is present for Total reportable fringe benefits amount from employers
exempt under section 57A, Total reportable fringe benefits amount from employers not
exempt under section 57A, Reportable employer superannuation contributions, Tax-free
government pensions, Target foreign income, Net financial investment loss, or Net rental
property loss and Child support you paid, an amount must be provided for each or set to
zero (0)
Warning 1 Warning in Depreciation worksheet :
Low value pool in depreciation worksheet with invalid transfer destination.

Detailed Error Report
Client : BROW0001 Mr James Brown
Form Type : I Form By: CIT188663 on 26/10/2018 (2018 v1.00)
Warning 2 Warning in CGT Schedule :
Capital Gains Tax (CGT) Schedule is attached and Net Capital Gains do not exceed
$10,000