Show download pdf controls
  • Changes to the treatment of partial commutation payments

    From 1 July 2017, lump sums, or partial commutations, no longer count towards your minimum pension payment.

    If the minimum pension standards are not met in a financial year, none of the payments made during that year can be treated as super income stream benefits.

    Failing to meet the minimum pension payment standards now not only means the fund loses exempt current pension income for the income year, there are also transfer balance account consequences.

    To help you understand what you need to know and do, we have updated our web content to clarify how partial commutations are treated since the 1 July 2017 super changes.

    We have also highlighted the importance of correctly classifying the type of payments made and the related reporting requirements.

    See also:

    Keep up to date:

      Last modified: 07 Nov 2018QC 57298