Section B: Payment details
Date of payment
Show the date you made the payment to the payee.
Use the format DDMMYYYY.
For example, show a payment date of 25 September 2013 as:
Total tax withheld
Show the total tax withheld in whole dollars.
For example, show $12,672.70 as:
The taxable component is the total of the payment, less the tax-free component. This amount is assessable income.
The taxable component of a super lump consists of either:
- a taxed element
- an untaxed element
- both taxed and untaxed elements.
Do not show taxed element amounts paid to people when they have turned 60. Show the untaxed element in all cases.
Show the taxed and untaxed elements of the taxable component in whole dollars.
Example of payment paid before a person turns 60
You pay a super lump sum to Nav, who is 58. The lump sum is made up of a $20,000 taxed element and a $10,000 untaxed element. You will show this as:
Example of payment paid after a person turns 60
You pay a $30,000 super lump sum to Kevin, who is 61. The lump sum is made up of a $20,000 taxed element and a $10,000 untaxed element. However as Kevin is over 60, the taxed element is not included.
You will show this as:
You do not have to complete this field.
If you report the tax-free component, show it in whole dollars.
For example, show a tax-free component of $6,594.55 as:
Is this payment a death benefit?
If you are paying the super lump sum because of another person’s death, place X at ‘Yes’. For example:
Type of death benefits
Super lump sum death benefits can be paid to any of the following:
- a dependant of the deceased
- a non-dependant of the deceased
- the trustee of the deceased estate.
If you pay a super lump sum death benefit to a dependant of the deceased, it is tax-free and you do not need to complete a payment summary.
A death benefit's dependant is any of the following:
- the deceased person’s spouse or de facto spouse
- the deceased person’s former spouse or former de facto spouse
- the deceased person’s child aged under 18
- any other person who was a dependant of the deceased just before they died
- any other person with whom the deceased had an interdependency relationship just before they died.
If you pay a lump sum super death benefit to a non-dependant of Australian Defence Force or police personnel who have died in the line of duty, the benefit is treated as if paid to a dependant.
The spouse of the deceased includes all of the following:
- another person (whether of the same sex or opposite sex) with whom the deceased was in a relationship that was registered under a law of a prescribed state or territory law
- another person (whether of the same sex or opposite sex) who lived with the deceased on a genuine domestic basis in a relationship as a couple.
The child of the deceased includes all of the following:
- an adopted child, stepchild or ex-nuptial child of the deceased
- a child of the deceased's spouse
- someone who is a child of the deceased within the meaning of the Family Law Act 1975 (for example, a child who is considered to be a child of a person under a state or territory court order giving effect to a surrogacy agreement).
A non-dependant for super lump sum death benefit purposes is any person who does not fall into one of the categories of dependant listed here.
If you pay a super lump sum death benefit to a non-dependant or to a trustee of a deceased estate you must complete a payment summary.
For example, if the payment was made to a non-dependant:
You do not have to withhold an amount from a super lump sum death benefit paid to the trustee of a deceased estate. However, you must issue a payment summary to the trustee, and include the payment summary as part of your PAYG withholding payment summary annual report.
Last modified: 17 Jun 2014QC 35966