We’ve had a new fund start in 2017, where a pension began in June 2017 and had not paid any expenses out of their bank account yet. The SMSF AR would not validate, as exempt income > $0 but no non-deductible expense amounts.
As a work around, we’ve edited the AR by inputting $1 of non deductible expense…which eliminated the error message.
The Member Statement was also a problem, as there were no Income Stream payment amounts (not required if start date is in June), yet the validation required an amount & a payment label. As a work around, we edited the Payment amount to $0.01…which eliminated the error message.
Admittedly these are rare circumstances, but they should not prevent the SMSFAR from being completed & lodged…do we leave our edits & lodge the AR with the work arounds, or should we wait until there are any program modifications?