Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:1_5:p11
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 1 cl 5 (pt 11/23)
Character Range: 162709–165773

fund that are substantially similar to the regulations specified as mentioned in subparagraph (i).

301‑175  Treatment of departing Australia superannuation benefits

 (1) Despite anything else in this Division, if you receive a *superannuation benefit that is a *departing Australia superannuation payment, the benefit is not assessable income and is not *exempt income.

 (2) However, you are liable to pay income tax on that payment at the rate declared by the Parliament in respect of *departing Australia superannuation payments.

Note 1: The tax is imposed in the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007 and the amount of the tax is set out in that Act.

Note 2: See 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

  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.

Division 302—Superannuation death benefits paid from complying plans etc.

Table of Subdivisions

 Guide to Division 302
302‑A Application
302‑B Death benefits to dependant
302‑C Death benefits to non‑dependant
302‑D Definitions relating to dependants

Guide to Division 302

302‑1  What this Division is about

      This Division sets out the tax treatment of superannuation death benefits received by members of complying plans etc. This treatment varies depending on the age of the deceased when they died (and in some cases on the age of the recipient of the benefit).

Subdivision 302‑A—Application

Table of sections

302‑5 Division applies to superannuation death benefits paid from complying plans etc.
302‑10 Superannuation death benefits paid to trustee of deceased estate

302‑5  Division applies to superannuation death benefits paid from complying plans etc.

  This Division applies to *superannuation death benefits that are:
 (a) paid from a *complying superannuation plan; or
 (b) *superannuation guarantee payments, *small superannuation account payments, *unclaimed money payments, *superannuation co‑contribution benefit payments or *superannuation annuity payments.

Note: For the tax treatment of superannuation member benefits paid from complying plans, see Division 301. Superannuation benefits paid from superannuation plans that are not complying superannuation plans are dealt with in Division 305.

302‑10  Superannuation death benefits paid to trustee of deceased estate