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Lump Sum offset for Lump Sum A and Employment termination payment

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Hi there,

 

How do you calculate the Lump Sum offset for Lump Sum A and Employment termination payment? Is there any formula available? Thanks.

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ATO Certified Response

ATO Community Support

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Hi @Ivy1,

 

Are you referring to the lump sum payments in arrears offset? If so, this offset is only applicable to payments that show at lump sum E - Back payment of salary or wages that accrued more than 12 months ago or any return to work payments.

 

Lump sum payments at other labels are not eligible for this offset, nor are employment termination payments.

 

You can read about the lump sum payments in arrears offset and the lump sum payment labels on our website.

1 REPLY 1

Most helpful response

ATO Certified Response

ATO Community Support

Replies 0

Hi @Ivy1,

 

Are you referring to the lump sum payments in arrears offset? If so, this offset is only applicable to payments that show at lump sum E - Back payment of salary or wages that accrued more than 12 months ago or any return to work payments.

 

Lump sum payments at other labels are not eligible for this offset, nor are employment termination payments.

 

You can read about the lump sum payments in arrears offset and the lump sum payment labels on our website.