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



    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