Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 302 - Superannuation death benefits paid from complying plans etc.  

Subdivision 302-C - Death benefits to non-dependant  

Superannuation lump sum

SECTION 302-145   Superannuation lump sum - element taxed in the fund taxed at 15 % , element untaxed in the fund taxed at 30 %  

302-145(1)    
If you receive a * superannuation lump sum because of the death of a person of whom you are not a * death benefits dependant, the * taxable component of the lump sum is assessable income.

Note:

For taxable component , see Subdivision 307-C .

302-145(2)    
You are entitled to a * tax offset that ensures that the rate of income tax on the * element taxed in the fund of the lump sum does not exceed 15 % .

302-145(3)    
You are entitled to a * tax offset that ensures that the rate of income tax on the * element untaxed in the fund of the lump sum does not exceed 30 % .