Taxation of super benefits
Untaxed plan cap amount
The untaxed plan cap amount for a super plan for the 2015-16 income year is $1.395 million. This cap is indexed annually to AWOTE in $5,000 increments.
Reductions and increases
The untaxed plan cap amount is a per plan limit, ie a separate untaxed plan cap applies to each super plan from which a person receives super lump sum member benefits. The untaxed plan cap amount for each super plan is reduced by the total amount of each untaxed element of a super lump sum that a person has received, including rollovers (except internal rollovers).
Last modified: Wednesday, May 11, 2016