Key factors that affect how your super payout is taxed

How the taxed element of your payout is taxed

The taxed element is the part of your benefit which has had tax paid on it in the fund. It may or may not need to have additional tax paid on it once it is paid out. You must include the taxed element in your tax return.

The type of payout you'll receive, combined with the age you'll be when taking your payout, will determine the tax you pay on the taxed element of your payout - unless you are 60 or over.

If you're 60 or over, you pay no tax on the taxed element of your payout regardless of the type of payout it is. The untaxed element is still subject to tax (see How the untaxed element of your payout is taxed).

Sections within How the taxed element of your payout is taxed

• I'm under my preservation age and will receive a lump sum (taxed element)
• I'm under my preservation age and will be paid a pension or income stream (taxed element)
• I'm between my preservation age and 60 and will be paid a lump sum (taxed element)
• I'm between my preservation age and 60 and will be paid a pension or income stream (taxed element)
• I'm 60 or over and will be paid a lump sum (taxed element)
• I'm 60 or over and will be paid a pension or income stream (taxed element)