Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p15
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 15/33)
Character Range: 4713398–4716169

the Taxation Administration Act 1953 for provisions dealing with the payment of the tax.

Subdivision 301‑E—Superannuation lump sum member benefits less than $200

Table of sections
301‑225 Superannuation lump sum member benefits less than $200 are tax free

301‑225  Superannuation lump sum member benefits less than $200 are tax free
 (1) Despite anything else in this Division (apart from Subdivision 301‑D), a *superannuation member benefit that you receive is not assessable income and is not *exempt income if:
 (a) the benefit is a *superannuation lump sum; and
 (b) the amount of the benefit is less than $200; and
 (c) the *value of the *superannuation interest from which the benefit is paid is nil just after the benefit is paid; and
 (d) the requirements (if any) specified in the regulations in relation to the benefit are satisfied.
 (2) Despite anything else in this Division (apart from Subdivision 301‑D), a *superannuation member benefit that you receive is not assessable income and is not *exempt income if:
 (a) the benefit is a *superannuation lump sum; and
 (b) the benefit is paid to you:
 (i) under subsection 20QF(2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in a case covered by paragraph (d) of that subsection; or
 (ia) under subsection 21E(2) of that Act in a case covered by paragraph (d) of that subsection; or
 (ib) under subsection 22B(2) of that Act in a case covered by paragraph (d) of that subsection; or
 (ii) under subsection 24G(2) of that Act in a case covered by paragraph (d) of that subsection; and
 (c) the amount of the benefit is less than $200.

Subdivision 301‑F—Veterans' superannuation (invalidity pension) tax offset

Table of sections
301‑275 Veterans' superannuation (invalidity pension) tax offset

301‑275  Veterans' superannuation (invalidity pension) tax offset
 (1) You are entitled to a *tax offset for an income year if:
 (a) you are an individual; and
 (b) during the income year, you receive one or more *superannuation lump sums that are payments of:
 (i) invalidity pay within the meaning of the Defence Force Retirement and Death Benefits Act 1973; or
 (ii) an invalidity pension under the superannuation scheme established under the Military Superannuation and Benefits Act 1991; or
 (iii) a pension mentioned in a paragraph of subsection 307‑70.02(1A) of the Income Tax Assessment (1997 Act) Regulations 2021.
 (2) The amount of your *tax offset is worked out as follows:
 (a) first, work out the amount by which your basic income tax liability exceeds the total of the amount of your tax offsets (if any) for the income year under:
 (i) this Division (other than this Subdivision); and
 (ii) Subdivision AB of Division 17 of Part III of the Income Tax Assessment Act 1936;
 (b)