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  • Taxation of super benefits

    Super benefits paid either as lump sums or income streams from a taxed super fund to people aged 60 years or more are tax-free and not included as assessable income.

    If you are over your preservation age, but under 60, any super benefits you receive from a taxed super fund are included as assessable income. However, you are entitled to a 15% tax offset on the taxable component of any super income stream payments you receive. Lump sums received from a taxed super fund are tax-free up to the low rate cap amount. Any super benefit that is tax-free is not included in assessable income and is not exempt income.

    Changes occuring to the super system may affect you. Your super is your future; check if you are directly affected by these changes or what these changes may mean for you.

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    Last modified: 29 Jun 2018QC 31873