Low income offset on trust tax estimate
I am doing a resident trust tax return and the part of trust taxable profit is distributing to a non resident not under legal disability person this year. Thereby the Trustee is assessable under S98(3).
The tax estimate is including a low income rebate offset. However a low income offset only applies to residents. It doesn't seem to correlate that the offset would be available to the Trustee to cover tax for a non resident.
Is there a trigger to turn this offset off?
Hi Amandasun
In MYOB tax, the estimate generated depends on the distribution scenarios.
Please have a look at this Knowledge Base article:
https://help.myob.com/wiki/x/zAp3AQ
I would suggest checking with ATO and contact Support as we might need to check the return information.
Please check the link below to check how estimates are based on:
http://help.myob.com/wiki/x/tAN3AQ
If the details in the return are correct and want to manually change the estimate, please follow the below link:
http://help.myob.com/wiki/x/cQZ3AQ
Regards,
Syed
Customer Support Representative
