Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p18
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 18/33)
Character Range: 4721209–4723914

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.

Superannuation income stream—deceased died aged under 60 and dependant aged under 60

302‑70  Superannuation income stream—tax free status of tax free component
  The *tax free component of 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 if:
 (a) you are under 60 when you receive the benefit; and
 (b) the deceased died aged under 60.
Note: For tax free component, see Subdivision 307‑C.

302‑75  Superannuation income stream—taxable component attracts 15% offset
 (1) The *taxable component of a *superannuation income stream benefit that you receive because of the death of a person of whom you are a *death benefits dependant is assessable income if:
 (a) you are under 60 when you receive the benefit; and
 (b) the deceased died aged under 60.
Note: For taxable component, see Subdivision 307‑C.
 (2) You are entitled to a *tax offset equal to 15% of the *taxable component of the benefit.

Death benefits to dependant—elements untaxed in fund

302‑80  Treatment of element untaxed in the fund of superannuation income stream death benefit to dependant
  If a *superannuation income stream benefit that you receive because of the death of a person of whom you are a *death benefits dependant includes an *element untaxed in the fund:
 (a) the *tax free component (if any) of the benefit is treated in the same way as the tax free component of a superannuation income stream benefit under section 302‑65 or 302‑70; and
 (b) the *element taxed in the fund (if any) of the benefit is treated in the same way as the *taxable component of a superannuation income stream benefit under section 302‑65 or 302‑75; and
 (c) the element untaxed in the fund is treated in accordance with section 302‑85 or 302‑90.
Note: If your superannuation income stream benefit is defined benefit income, see Subdivision 303‑A.

302‑85  Deceased died aged 60 or above or dependant aged 60 years or above—superannuation income stream: element untaxed in fund attracts 10% offset
 (1) The *element untaxed in the fund of a *superannuation income stream benefit that you receive because of the death of a person of whom you are a *death