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  • Taxation of super benefits

    Super benefits (both lump sums and income streams) paid from a taxed super fund to people 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 to the super system are occurring that may affect you. Your super is your future, check to see if you are directly affected or what these changes may provide for you.

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    Last modified: 18 Apr 2017QC 31873