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Australian superannuation lump sum payments

How to report super lump sum payments in 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 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’.