Income Tax Assessment Act 1997



Division 305 - Superannuation benefits paid from non-complying superannuation plans  

Subdivision 305-B - Superannuation benefits from foreign superannuation funds  

Lump sums received within 6 months after Australian residency or termination of foreign employment etc.

SECTION 305-60  

305-60   Lump sums tax free - foreign resident period  

A *superannuation lump sum you receive from a *foreign superannuation fund is not assessable income and is not *exempt income if:

(a) you receive it within 6 months after you become an Australian resident; and

(b) it relates only to a period:

(i) when you were not an Australian resident; or

(ii) starting after you became an Australian resident and ending before you receive the payment; and

(c) it does not exceed the amount in the fund that was vested in you when you received the payment.


If you received the lump sum after that period of 6 months, or the lump sum exceeds the vested amount, the payment will fall within section 305-70 .

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