myTax 2018 Australian superannuation lump sum payments

This section is about Australian superannuation lump sum payments or superannuation death benefit payments you received, including those paid by:

• superannuation funds
• approved deposit funds
• retirement savings account providers
• life insurance companies.

It is also about any:

• amounts we paid to you in respect of the superannuation guarantee charge or the superannuation holding accounts special account
• payments you received from the unclaimed money registers.

You need to complete this section if you received a PAYG payment summary - superannuation lump sum that shows a taxed or untaxed element.

See also:

• You need to know
• Withdrawing your super and paying tax

Do not show at this section

Warning:

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

End of attention

Do not show the following at this section:

• tax-free component of any superannuation lump sum, including any super co-contribution or low-income super tax offset payment from us. These amounts are tax free and not included in your assessable income
• lump sum payments you received as a death benefits dependant. These amounts are tax free and not included in your assessable income
• taxed element of a superannuation lump sum payment you received on or after your 60th birthday (these amounts are tax free and not included in your assessable income) unless it is a death benefit superannuation lump sum payment paid to you as a non-dependant
• superannuation lump sum payment received as the trustee of a deceased estate. This payment must be shown on the trust tax return of the deceased estate
• amounts released under a 'release authority' issued to you because of an excess contributions tax assessment. These amounts are tax free and not included in your assessable income
• amounts paid to you because you have a terminal medical condition. These amounts are tax free and not included in your assessable income (you should not have received a PAYG payment summary - superannuation lump sum for this type of payment)
• departing Australia superannuation payments
• lump sums you received from foreign superannuation. Show these at Other foreign income in the Foreign income, assets and entities section.

Completing this section

You will need your PAYG payment summary – superannuation lump sum. If you have not received it, have lost it or think the details (such as the dependency status) on it are wrong, contact your payer. If you still cannot obtain it or cannot agree on the details, see PAYG payment summary - individual non-business.

We have pre-filled your tax return with payment summary information provided to us. Check for Australian superannuation lump sum payments you received that are not pre-filled and ensure you add them.

1. For each payment summary that has not been pre-filled in your tax return, select Add and enter information into the corresponding fields.
   If your payment summary shows a tax-free component, this amount will not be included in your taxable income.
2. For each payment summary, answer the question Is this a death benefit?
3. Select Save.
4. Select Save and continue.