Things to know
Complete this section if you received any Australian superannuation (super) lump sum payments or super death benefit payments, including those from:
- super funds
- approved deposit funds
- retirement savings account (RSA) providers
- life insurance companies.
It's also about:
- amounts we paid you for the super guarantee charge or the super 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.
Don’t show at this section
Don’t show the following at this section:
- Tax-free component of any super lump sum, including any super co-contribution or low-income super tax offset payment from us. These amounts are tax free and you don't include them in your assessable income.
- Lump sum payments you received as a death benefits dependant of the deceased. These amounts are tax free and you don't include them in your assessable income.
- Taxed element of a super lump sum payment you received on or after your 60th birthday (these amounts are tax free and you don't include them in your assessable income) unless it's a death benefit super lump sum payment you received as a non-dependant.
- Super lump sum payments you received as the trustee of a deceased estate. You must show this payment on the trust tax return of the deceased estate.
- Amounts from a 'release authority' you received because of an excess contributions tax assessment. These amounts are tax free and you don't include them in your assessable income.
- Amounts you received because you have a terminal medical condition. These amounts are tax free and you should not have received a PAYG payment summary – superannuation lump sum for this type of payment.
- Departing Australia superannuation payments, these amounts are not included in your assessable income.
- Lump sums you received from foreign super, go to Other foreign income.
Completing this section
You'll need your PAYG payment summary – superannuation lump sum. If you can't find or think there is an issue (such as the dependency status) with your payment summary, contact your payer. If you're unsuccessful, see PAYG payment summary – superannuation lump sum.
We pre-fill your tax return with payment summary information provided to us. Check them and add any Australian super lump sum payments you received that haven't pre-filled.
To personalise your tax return to show Australian super lump sum payments, at Personalise return select:
- You had income from Australian superannuation or annuity funds
- Super lump sums.
To show your Australian super lump sum payments, at Prepare return select 'Add/Edit' at the Income statements and payment summaries banner.
At the Super lump sums banner:
- For each Australian super lump sum payment summary that hasn't 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. - For each payment summary, answer the question Is this a death benefit?
- Select Save.
- Select Save and continue when you have completed the Income statements and payment summaries section.
You can find more information about super in Withdrawing and using your super.