Question:
I am finalising SMSF RETURN 2019, the tax on taxable income doesn't look right.
SMSF pays 15% but LodgeIT says a lot more.
Answer:
All assessable income for a non-complying SMSF is taxed at 45%, whether arm's length income, non-arm's-length income or arising from a change in the SMSF's tax status. In the tax return you have provided, it is showing as non Australian superfund.
Please refer to this ATO guide here
If it is a complying SMSF, please change the button from NO to YES