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Australian annuity payment

How to report payments from Australian annuities when you lodge your return using myTax.

Last updated 18 June 2015

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

Australian annuities (also called non-superannuation annuities) are paid to you by Australian life insurance companies and friendly societies.

Answering this question

You will need your PAYG payment summary – individual non-business which shows the amount of your annuity and its undeducted purchase price (UPP).

Completing your tax return

1. Select from the drop-down menu ‘Australian annuity payment’.

2. Using your payment summary enter the following information:

  • payer's name
  • payer's Australian business number (ABN)
  • tax withheld
  • gross amount of annuity
  • deductible amount of UPP (if any).
    We will work out the assessable amount by subtracting the deductible amount of your UPP from the gross amount.

3. Click on ‘Save’.