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  • Super related tax offsets

    There are two super-related tax offsets for which you may be eligible:

    Australian super income stream tax offset

    If you receive income from an Australian super income stream, you may be entitled to a tax offset equal to either:

    • 15% of the taxed element
    • 10% of the untaxed element.

    The tax offset amount available to you for the taxed element will be shown on your payment summary.

    You will need to calculate the tax offset amount available to you as the untaxed element will not be shown on your payment summary.

    The tax offset amount on the untaxed element is limited to $10,000. The amount available to you is dependent on whether you have an assessable amount from your defined benefit income stream and your defined benefit income cap.

    You're not entitled to a tax offset for the taxed element of any super income stream you receive before you reach your preservation age unless the super income stream is either a:

    • disability super benefit
    • death benefit income stream.

    You're not entitled to a tax offset for the untaxed element of any super income stream you receive before you turn 60 years old, unless both:

    • the super income stream is a death benefit income stream
    • the deceased died after they turned 60 years old.

    See also:

    Tax offset for super contributions on behalf of your spouse

    If you make contributions to a complying superannuation fund or a retirement savings account (RSA) on behalf of your spouse (married or de facto) who is earning a low income or not working, you may be able to claim a tax offset.

    You will be entitled to a tax offset of up to $540 a year if you meet all of the following conditions:

    • For income years prior to 2017–18 the sum of your spouse's assessable income, total reportable fringe benefits amounts and reportable employer super contributions was less than $13,800.
    • For 2017–18 and later income years the sum of your spouse's assessable income, total reportable fringe benefits amounts and reportable employer super contributions was less than $40,000 and the contributions were not deductible to you.
    • The contributions were made to a super fund that was a complying super fund for the income year in which you made the contribution.
    • Both you and your spouse were Australian residents when the contributions were made.
    • When making the contributions you and your spouse were not living separately and apart on a permanent basis.
    • For 2017–18 and later income years your spouse had not exceeded their non-concessional contributions cap for the relevant year or had a total superannuation balance equal to or exceeding the transfer balance cap immediately before the start of the financial year in which the contribution was made.
    • The tax offset for eligible spouse contributions can't be claimed for super contributions that you made to your own fund, then split to your spouse. That is called a rollover or transfer, not a contribution.

    See also:

    Date

    Change type

    What's changed

    6 December 2016

    Legislation

    Reflects superannuation reforms passed by parliament on 23 November 2016.

    Last modified: 26 Mar 2018QC 31976