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Jessikah01(I'm new)I'm new
23 Aug 2023

Evening all,


I am doing my Tax for FY21-22 (yes I am late). I have finished entering my information and deductions and received my estimated tax return. When I look at the calculation, it is showing a large deduction for an Employment termination payment and unused leave item.


I have been with the same company for 12 years and was not terminated, made redundant nor did I resign.


Does anyone know if there is any other reason for this deduction? Do I need to dispute it before submitting my return?


Cheers,


Jess

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TeddyATO(Community Support)Community Support
24 Aug 2023

Hello @Jessikah01,


In this type of situation I would first suggest double checking your return to make sure there isn't some unknown prefill you may have not noticed. I would then also check your income statement to see if you have had any sort of lump sum amounts applied and that the code they used was correct. If your income statement was incorrect then you will have to contact your employer to get it corrected before lodging the return.

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Most helpful reply

TeddyATO(Community Support)Community Support
24 Aug 2023

Hello @Jessikah01,


In this type of situation I would first suggest double checking your return to make sure there isn't some unknown prefill you may have not noticed. I would then also check your income statement to see if you have had any sort of lump sum amounts applied and that the code they used was correct. If your income statement was incorrect then you will have to contact your employer to get it corrected before lodging the return.

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Tax Estimate Calculation Deduction includes ETP Payment | ATO Community