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-B - Death benefits to dependant  

Superannuation income stream - either deceased died aged 60 or above or dependant aged 60 or above

SECTION 302-65   302-65   Superannuation income stream benefits are tax free  


A *superannuation income stream benefit that you receive because of the death of a person of whom you are a *death benefits dependant is not assessable income and is not *exempt income in either or both of the following cases:


(a) you are 60 years or over when you receive the benefit;


(b) the deceased died aged 60 or over.

Note 1:

If your superannuation income stream benefit includes an element untaxed in the fund, see section 302-85 .

Note 2:

If your superannuation income stream benefit is defined benefit income, see Subdivision 303-A .


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