We have pre-filled your tax return with payment summary information provided to us. Check for Australian superannuation lump sum payments you received that are not pre-filled and ensure you add them.
This section is about Australian superannuation lump sum payments or superannuation death benefit payments you received, including those paid by:
- superannuation funds
- approved deposit funds
- retirement savings account providers
- life insurance companies.
It is also about any:
- amounts we paid to you in respect of the superannuation guarantee charge or the superannuation holding accounts special account
- payments you received from the unclaimed money registers.
Do not show on your tax return any:
- taxed element of a superannuation lump sum payment you received on or after your 60th birthday, unless it is a death benefit superannuation lump sum payment paid to you as a non-dependant
- death benefit lump sum payments you received as a dependant of the deceased (see the definition of dependant in Special circumstances and glossary)
- superannuation lump sum payment received as the trustee of a deceased estate (this payment must be shown on the trust tax return of the deceased estate)
- amounts released under a 'release authority' issued to you because of an excess contributions tax assessment (these amounts are tax free and not included in your assessable income)
- amounts paid to you because you have a terminal medical condition.
Answering this question
You will need your PAYG payment summary – superannuation lump sum. If you have not received it, contact your payer.
Completing your tax return
1. Select from the drop-down menu ‘Super lump sum’
2. Using your payment summary enter the following information:
- payer's name
- payer's Australian business number (ABN)
- date of payment
- tax withheld
- taxed element under the heading ‘Taxable component’
- untaxed element under the heading ‘Taxable component’
- tax free component
3. Answer the question, ‘Is this a death benefit?’
4. Click on ‘Save’.Instructions on completing your individual tax return using myTax.