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Income streams

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Newbie

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Replies 4

I am receiving a CSC superannuation income stream and it is a defined capped income stream. Now my problem is that I entered exactly the same details twice. The first time under CSC and the second one under Communwealth Superannuation Scheme. Consequently the system is double counting and my income has been overstated. Firstly would the ATO system pick up this errror. If it does not how do I get rid of one of them. Thank you

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ATO Certified Response

Former Community Support

Replies 2

Hi @karatt,

 

Thanks for getting in touch!

 

If you've reported income twice in myTax, you can remove the information before submitting your return.

 

As @macfanboy has suggested, at any time throughout your return, you can press the Cancel button at the bottom of the screen, which will remove all information you've entered in your return. You can then start again and use the pre-fill information available.

 

If you don't want to restart your return, you can press the Delete button under Super income stream information in the Income statements and payment summaries section of myTax. 

 

You can also select the Live chat function when in section 3 & 4of myTax which will connect you with an officer who can help you with your return in real time.

 

Hope this helps, JodieH.

4 REPLIES 4

Taxicorn

Replies 0

No, the ATO may not see this.

 

Can you start over and prefill the information?

 

Most helpful response

ATO Certified Response

Former Community Support

Replies 2

Hi @karatt,

 

Thanks for getting in touch!

 

If you've reported income twice in myTax, you can remove the information before submitting your return.

 

As @macfanboy has suggested, at any time throughout your return, you can press the Cancel button at the bottom of the screen, which will remove all information you've entered in your return. You can then start again and use the pre-fill information available.

 

If you don't want to restart your return, you can press the Delete button under Super income stream information in the Income statements and payment summaries section of myTax. 

 

You can also select the Live chat function when in section 3 & 4of myTax which will connect you with an officer who can help you with your return in real time.

 

Hope this helps, JodieH.

Newbie

Replies 1

Dear Jodie,

 

               Thank you for your help. However it is possible that I did not explain things clearly. I have already lodged my tax return but after I lodged  it, I realised that I had made a number of mistakes. Therefore I need to amend my return and resubmit it again.One of them is that the income stream has been duplicated. I don't know whether I did it inadvertently or it is a system problem. Anyway my return shows two payers under super income stream ie Payer CSC and Payer Commonwealth Superannuation Scheme. The figures are exactly the same. I need to get rid of one of the Payers. I would rather delete one of them rather than start all over again. 

 

One other issue is the calculated amounts and it states assessable amount from capped defined benefit income stream $27992.00 and tax offset $2,799. Now I find this very confusing because my Superannuation Pension is only about $19400. 
 I would appreciate any help that I can get.

 

 

 

 

 

Community Moderator

Replies 0

 

Hi @karatt,

 

Thanks for your question. The problem may have been that the amounts have been pre-frilled and then you added it in again.

 

You will need to amend your income tax return. Once you have corrected the income, before you submit the amendment check the summary to ensure that the offset is also correct.

 

Thanks

 

KylieS