Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p19
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 19/33)
Character Range: 4723676–4726373

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 benefits dependant is assessable 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 above.
 (2) You are entitled to a *tax offset equal to 10% of the *element untaxed in the fund of the benefit.
Note: If your superannuation income stream benefit is defined benefit income, see Subdivision 303‑A.

302‑90  Deceased died aged under 60 and dependant aged under 60—superannuation income stream: element untaxed in fund is assessable income
  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 benefits dependant is assessable income if:
 (a) you are aged under 60 when you receive the benefit; and
 (b) the deceased died aged under 60.

Subdivision 302‑C—Death benefits to non‑dependant

Table of sections

Superannuation lump sum
302‑140 Superannuation lump sum—tax free status of tax free component
302‑145 Superannuation lump sum—element taxed in the fund taxed at 15%, element untaxed in the fund taxed at 30%

Superannuation lump sum

302‑140  Superannuation lump sum—tax free status of tax free component
  The *tax free component of a *superannuation lump sum that you receive because of the death of a person of whom you are not a *death benefits dependant is not assessable income and is not *exempt income.
Note: For tax free component, see Subdivision 307‑C.

302‑145  Superannuation lump sum—element taxed in the fund taxed at 15%, element untaxed in the fund taxed at 30%
 (1) If you receive a *superannuation lump sum because of the death of a person of whom you are not a *death benefits dependant, the *taxable component of the lump sum is assessable income.
Note: For taxable component, see Subdivision 307‑C.
 (2) You are entitled to a *tax offset that ensures that the rate of income tax on the *element taxed in the fund of the lump sum does not exceed 15%.
 (3) You are entitled to a *tax offset that ensures that the rate of income tax on the *element untaxed in the fund of the lump sum does not exceed 30%.

Subdivision 302‑D—Definitions relating to dependants

Table of sections
302‑195 Meaning of death benefits dependant
302‑200 What is an interdependency relationship?

302‑195  Meaning of death benefits dependant
 (1) A death benefits dependant, of a person who has died, is:
 (a) the deceased person's *spouse or former spouse; or
 (b) the