How to complete the PAYG payment summary - superannuation income stream form

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These instructions will help you complete the PAYG payment summary - superannuation income stream (NAT 70987) form.

When to use this form

Use this form if you have made superannuation income stream payments, including superannuation income stream lump sum in arrears payments to a person:

• aged under 60 years, or
• aged 60 years and above and the taxable component contains an untaxed element.

You can only pay a superannuation income stream if you are:

• a superannuation fund
• an approved deposit fund (ADF)
• a life insurance company or registered organisation, or
• a retirement savings accounts (RSA) provider.

Do not use this payment summary if you have withheld from payments that are:

• salary or wages paid to an employee, company director or office holder
• non-superannuation annuities - use the PAYG payment summary - individual non-business (NAT 0046)
• under a labour hire arrangement or other specified payment
• under voluntary agreements to withhold
• for supplies where an Australian business number (ABN) was not quoted
• employment termination payments
• superannuation lump sums, or
• personal services income attributed to an individual.

Separate payment summaries and instructions are available for each of the above payments. You can order these by: visiting our website to order online (select 'Forms and services' from the left navigation bar, then Online ordering), or phoning our publication ordering service on 1300 720 092 at any time - you must quote your ABN to use this service.