How to complete the PAYG payment summary - superannuation lump sum form

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These instructions will help you complete the PAYG payment summary - superannuation lump sum (NAT 70947) form.

They apply if you make payments to payees that are superannuation lump sums. However, this does not include superannuation income stream payments. These amounts are shown in the PAYG payment summary - superannuation income stream (NAT 70987) form.

When to use this form

Use this form if you have paid a superannuation lump sum to any of the following payees:

• a person aged under 60 years
• a person aged 60 years and over where the payment contained a taxable component with an untaxed element
• a non-dependant in the event of another person's death
• the trustee of a deceased estate.

You can only pay a superannuation lump sum if you are one of the following:

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

Do not use this form for superannuation lump sum payments paid to a person with a terminal medical condition or for amounts you have withheld from any of the following payments:

• salary or wages paid to an employee, company director or office holder
• payment under a labour hire arrangement or other specified payments
• payments under a voluntary agreement to withhold
• payments for supplies where an Australian business number (ABN) was not quoted
• employment termination payments
• payments from superannuation income streams
• personal services income attributed to an individual.

To obtain copies of the forms and instructions for each of these situations, phone our publication ordering service on 1300 720 092 at any time - you must quote your ABN to use this service.