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  • PAYG payment summary – superannuation income stream

    For super providers who make super income stream payments, including lump sum in arrears payments (NAT 70987).

    Use the PAYG payment summary – superannuation income stream form (NAT 70987) if you have made superannuation income stream payments, including superannuation income stream lump sum in arrears payments, to a person.

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

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

    You are required to provide a payee with a superannuation income stream payment summary in the following circumstances:

    • the payee is less than 60 years old
    • the payee is 60 years or older and is in receipt of a capped defined benefit income stream
    • the payee is 60 years or older and has an untaxed element from a non-capped defined benefit income stream.

    Do not use this payment summary if you have withheld from payments that are non-superannuation annuities – instead use the PAYG payment summary – individual non-business form (NAT 0046).

    Last modified: 07 Apr 2021QC 19550