Claiming lump sum E on tax returns
Your first step is to check if the Australian Taxation Office's (ATO) prefill imported data into Item 24 Category 1 Worksheet for the lump sum payment. If it did, delete the worksheet.
Next complete these 2 lump sum fields in the Income Worksheet (Item 1 worksheet).
- Lump sum code
- Lump sum amount - lump sum year and lump sum amount
The lump sum amount will automatically transfer to the newly added item 24 lump sum amount field. Tax Assistant will also include $0 at item 24 category 1 to pass validation due to the new validation rules in the 2020 tax return.