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  • Reduced taxable income to take account of certain superannuation lump sums

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    For Medicare levy purposes, your taxable income excludes the taxed element of a superannuation lump sum, other than a death benefit, that you received when you were aged between your preservation age and 59 years old that does not exceed your low-rate cap for 2017–18. For 2017–18, the low-rate cap is $200,000 but it could be less if you received superannuation lump sums in previous years.

    For more information, see Low-rate cap amount for taxable components of superannuation lump sum payments.

      Last modified: 28 Jun 2018QC 55656