25 days ago
Adjusting Termination Payment Lump Sum Category in MYOB
One issue need help.
Back to FY22, we submitted an redundancy report to the ATO for an employee who has left the company. It turns out there was a mistake with his income categorization in that report.
- Paid leave should have been declared under Lump Sum A category rather than grouped together with Salary and wages component.
- Employee termination payment taxable component should have been declared under Lump Sum D.
We tried to go back and correct it in MYOB, but the system doesn’t allow us to make any changes to past two years submissions.
Could anyone knows how to fix this issue?
Thanks so much!