Flood levy - employment termination payments and super payments

Super income streams (untaxed element)

Age of recipient	Income stream	Will the flood levy apply to this payment?
60 years old or over	Taxed at marginal rates, with a 10% tax offset	Yes
At or above preservation age and under 60	Taxed at marginal rates, with no tax offset	Yes
Under preservation age	Taxed at marginal rates, with no tax offset	Yes

	Medicare levy (1.5%) will apply to assessable amounts.
	For more information about super, refer to Guide to superannuation for individuals.

Sections within Table of payments to which the flood levy may apply

• Super lump sums
• Employment termination payments (ETPs)
• Super income streams (taxed element)
• Super income streams (untaxed element)