ato logo
Search Suggestion:

Australian superannuation income streams

How to report income you received from Australian Superannuation income streams in using myTax.

Last updated 18 June 2015

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

Australian superannuation income streams are paid to you by Australian superannuation funds, retirement savings account (RSA) providers and life insurance companies.

Your PAYG payment summary – superannuation income stream will show any tax offset amount you may be entitled to. If you have not received it, or you disagree with an amount shown on it, contact your payer.

You may be entitled to a tax offset equal to:

  • 15% of the taxed element, or
  • 10% of the untaxed element of your superannuation income stream benefit.

If your payment summary does not show the tax offset amount, to calculate the offset read More information.

If you received a taxable Australian superannuation lump sum payment, do not show it here; show it at Superannuation lump sum.

Do not show the following amounts anywhere on your tax return:

  • the taxed element of a superannuation income stream you received after your 60th birthday (these amounts are tax free and not included in your taxable income)
  • the taxed element of a superannuation income stream paid to you as the result of the death of another person who died aged 60 years old or older or if you were 60 years old or older when you received the benefit (these amounts are tax free and not included in your taxable income).

Answering this question

You will need your PAYG payment summary – superannuation income stream.

Completing your tax return

1. Select from the drop-down menu ‘Super income stream'

2. Using your payment summary enter the following information:

  • payer's name
  • payer's Australian business number (ABN)
  • tax withheld
  • taxed element under the heading ‘Taxable component’
  • untaxed element under the heading ‘Taxable component’
  • tax free component
  • tax offset amount

3. Click on ‘Save’.