Question: I have processed a clients income tax return including their superannation income stream. I took out the taxable field as it is non taxable as per the alert in the tax return but the ATO have adjusted it and taxed it? Should there be somewhere else that this is recorded?
Solution: ATO states that UNtaxed amount should be filled, not taxed. It can be filled in the same worksheet in LodgeiT. ATO instruction says that a taxed element after person’s 60th birthday should not be included.