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  • R1 Lump sum payments

    Did the SMSF pay any super lump sums for the member?

    No

    Leave R1 blank. Go to R2.

    Yes

    Read on.

    Write at R1 the total amount of super lump sum benefits paid for the member in 2018–19.

    Use table 11 to work out which code applies to the amount you wrote at R1. Print the code in the Code box to the right of R1. If more than one benefit type applies, use the code that describes the largest payment amount.

    Do not include at R1:

    • amounts transferred from the member’s account to their spouse's super account as a result of a contributions splitting arrangement (include these at Q Outward rollovers and transfers)
    • amounts transferred from the member's account because of a family law obligation (include these at Q Outward rollovers and transfers).

    A payment made as a result of a full commutation of an income stream is a super lump sum and must be reported at R1 Lump sum payments.

    From 1 July 2017 the payment resulting from a partial commutation of a super income stream is a superannuation lump sum and must be reported at R1 Lump sum payments.

    From 1 July 2017 a member can no longer elect to have a super income stream benefit treated as a super lump sum.

    Table 11: Lump sum benefit type codes

    Code

    Benefit type

    A

    Lump sum benefit for a member 60 years old or older

    B

    Lump sum benefit for a member less than 60 years old

    C

    Death benefit to a dependant

    D

    Death benefit to a non-dependant

    E

    Terminal medical condition benefit

    F

    Other lump sum benefit type (for example, permanent incapacity, severe financial hardship, approved compassionate payment)

    G

    Release authority payment (for example where an amount is released and issued to the ATO in response to a release authority)

    Last modified: 03 Oct 2019QC 58668