EI 2018: Item 7 - Aus Annuities & Super income incorrect calculation

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Article ID: 30193946

ARTICLE LAST UPDATED: Aug 02, 2018 11:23

In MYOB Tax version 2018.0 when calculating the tax-free element for Item 7 : Australian annuities and superannuation income streams, the system does not include the $100,000 benefit cap.

ATO have introduced a new field at Item 7 - Transfer balance cap.

In the meantime, enter the values manually to calculate the amount using the ATO calculator : Defined benefit income cap tool.

If you are getting a PLS rejection: CMN.ATO.IITR.000666, check your amounts at Item 7 : Australian annuities and superannuation income streams.

MYOB INTERNAL STAFF ONLY

Insert PR# 159202379683

SR# 159192780547

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