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The reversal of a Close Financial Year (Balance Forward) to re-open the 2017 financial year cannot be completed where:

  1. A TBAR event has been prepared and lodged in the current year (for example the reporting of SIS income streams as at 30/6/17); and/or
  2. There are TBAR events from the close period that have been cancelled

 

A TBAR event has been prepared and lodged in the current year

 

If you still wish to re-open the period complete the following:

A) In the TBAR Management screen, select the Lodged tab. 

B) Locate the Event Batch ID (TBAR File) which contains the fund's events that have been previously reported to the ATO.

C) Cancel the events that have been previously report to the ATO. 

D) Select Move to Prepared to move the TBAR File back to the Prepared tab. The period can now be re-opened for the fund. 

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There are TBAR events from the closed period that have been canceled

A) In the TBAR Management screen, select the Lodged tab. This is where the event that is preventing the reopening of the previous period will be.

 

B) Locate the Event Batch ID (TBAR File) which contains the fund's events that have been previously reported to the ATO. You may need to change the Lodgement Period filter see this event

 

C) Cancel the event(s) that have been previously reported to the ATO. This will create a cancellation event in the Outstanding tab.

 

D) Select the Outstanding tab

 

E) Locate the event that was just canceled. Notice that there is an arrow icon. Click on this:

 

 

F) This will expand the event to reveal the cancellation event underneath that was created when the original event was canceled:

 

 

G) Tick the cancellation event and select Prepare TBAR. This will move the cancellation event to the Prepared tab:


F) Select the Prepared tab:

 

G) Tick the cancellation event in the Prepared tab, and select Mark as Lodged. This will move it to the Lodged tab in the next financial year:

 

H) You will now be able to re-open the previous financial period.

 

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