Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If you are under your * preservation age when you receive a * superannuation income stream benefit, the * taxable component of the benefit is assessable income.
Note: For taxable component , see Subdivision 307-C.
Offset for disability benefit
(2) If the benefit is a * superannuation income stream benefit and a * disability superannuation benefit, you are entitled to a * tax offset equal to 15% of the * taxable component of the benefit.
Table of sections
301-90 Tax free component and element taxed in fund dealt with under Subdivision 301-B, but element untaxed in the fund dealt with under this Subdivision
Member benefits (element untaxed in fund)--recipient aged 60 or above
301-95 Superannuation lump sum--element untaxed in fund taxed at 15% up to untaxed plan cap amount, top rate on remainder
301-100 Superannuation income stream--element untaxed in fund attracts 10% offset
Member benefits (element untaxed in fund)--recipient aged over preservation age and under 60
301-105 Superannuation lump sum--element untaxed in fund taxed at 15% up to low rate cap amount, 30% up to untaxed plan cap amount, top rate on remainder
301-110 Superannuation income stream--element untaxed in fund is assessable income
Member benefits (element untaxed in fund)--recipient aged under preservation age
301-115 Superannuation lump sum--element untaxed in fund taxed at 30% up to untaxed plan cap amount, top rate on remainder
301-120 Superannuation income stream--element untaxed in fund is assessable income
Miscellaneous
301-125 Unclaimed money payments by the Commissioner