• Departing Australia superannuation payment

    This table covers Departing Australia superannuation payment (DASP) tax rates for lump sums and rollovers.

    Rollovers

    If we hold super money for a former temporary resident as temporary resident unclaimed super money, they have the option of rolling the money over to their super fund if they have subsequently returned to Australia as a permanent resident. This is the only time a rollover of DASP is an option. The rollover is still a DASP and will be taxed according to this table.

    Table 13: DASP tax table (from 1 July 2017)

    Payment component

    DASP ordinary tax rate

    DASP Working holiday makers (WHM) tax rate

    Tax free component

    Nil

    Nil

    Taxable component – taxed element

     

    Applies to taxed elements whether taken as DASP lump sum or rollover.

    35%

    65%

    Taxable component – untaxed element

     

    Applies to DASP lump sums. Also to roll-over amounts up to the untaxed roll-over plan cap amount.

     

    Any part of a rollover that exceeds the untaxed roll-over plan cap amount is subject to tax under the Superannuation (Excess Untaxed Roll-over Amounts Tax) Act 2007 (47%) rather than at DASP tax rates.

    45%

    65%

    The Temporary Budget Repair Levy applied in the 2014–15, 2015–16 and 2016–17 income years. For those years, the DASP tax rates were:

    • tax free component – NIL
    • taxable component taxed element – 38%
    • taxable component untaxed element – 47%
    • Any part of a rollover that exceeded the untaxed roll-over plan cap amount was subject to tax under the Superannuation (Excess Untaxed Roll-over Amounts Tax) Ac  2007 (49%) rather than at DASP tax rates.

    See also:

    Super income stream tax tables

    Element taxed in the fund of a super income stream

    The table below summarises the taxation of a super income stream paid with an element taxed in the fund.

    The tax-free component is not included. This component is non-assessable non- exempt income in all cases.

    Table 14: Element taxed – super income stream tax rates

    Age of recipient

    Income stream

    Age 60 years or more

    Not assessable, not exempt income

    At or above preservation age and under 60 years

    Taxed at marginal tax rates – Tax offset of 15% is available

    Under preservation age

    Taxed at marginal tax rates, with no tax offset – Tax offset of 15% is available if a disability super benefit

    Medicare levy will apply if amounts are assessable.

    Note:

    • A temporary 2% levy applies for the 2014–15, 2015–16 and 2016–17 income years to individuals with a taxable income of more than $180,000 per year. The levy is payable at a rate of 2% of each dollar of a taxpayer’s taxable income over $180,000. This will cease to apply from 1 July 2017.
    • The Medicare levy rate is 2% from 1 July 2014 for the 2014–15 income year and later income years, and is applied in addition to the maximum rate of tax for each income component.
    • The Medicare levy rate is 1.5% up to and including 30 June 2014 and is applied in addition to the maximum rate of tax for each income component.
    • In the 2011–12 income year the flood levy may apply where an individual's taxable income exceeds $50,000. We have published information to help you work out if the flood levy applies to you.
    Last modified: 22 Sep 2017QC 18123