Taxation of super benefits
Taxation of super income stream benefits
|60 and above||0%. Non-assessable non-exempt income (NANE)||MTR less 10% tax offset|
|Preservation age to 59||MTR less 15% tax offset||MTR (no tax offset)|
|Below preservation age||MTR (no tax offset)||MTR (no tax offset)|
Note: For all non-zero tax rates, Medicare levy may also apply.
See sections 7.3 and 7.8 for the taxation of death benefit and disability super benefit income streams.
15% tax offset
A 15% offset applies where:
- the taxable component forms part of the recipient's assessable income, and
- the recipient is aged preservation age (aged 55 to 59 depending on date of birth), or
- the income stream is a death benefit, or
- the income stream is a disability super benefit.
|Tax offset = 15% X taxable component (taxed element)|
Last modified: Tuesday, May 2, 2017