A separate section is provided for Superannuation Lump sums in arrears (LSIA) payments. Enter lump sum in arrears amounts for taxed, untaxed and tax-free elements as shown on the payment summary, received when you were under 60 years of age. When you close the worksheet we'll pass the amount to item 7 label Y.
AE/AO MYOB Tax does not currently support the calculation of the LSIA offset. If there is such a payment, you will need to inform the ATO by completing an the Other Attachments (AO) schedule. Use the Quick Access point to open the OA. The ATO will calculate any LSIA offset and include it the Notice of Assessment. If you've calculated it yourself, you can enter it in the special field provided in the client's Return Properties > Estimate > Income Arrears Rebate. In this way, the F4 estimate will agree with the NoA. |