Question: I’ve noticed the Lump Sum Tax Offset (super payment) is calculating at 30% instead of 15% for a non-dependent. How can I rectify this so the client receives the correct tax estimate once their tax return is processed?
Answer: LodgeiT automatically applies the 15% tax offset for the taxed element of a death benefit lump sum.
If you are still uncertain about the calculated estimate:
You may proceed to lodge the tax return.
Wait for the Notice of Assessment (NoA) from the ATO.
The ATO will issue the final assessment, and this will confirm the correct tax calculation.