Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p9
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 9/33)
Character Range: 4698029–4701060

Division applies to superannuation member benefits paid from complying plans etc.
  This Division applies to:
 (a) *superannuation member benefits that are paid from a *complying superannuation plan; and
 (b) *superannuation guarantee payments; and
 (c) *small superannuation account payments; and
 (d) *unclaimed money payments; and
 (e) *superannuation co‑contribution benefit payments; and
 (f) *superannuation annuity payments.
Note: For the tax treatment of superannuation death benefits paid from complying plans, see Division 302. Superannuation benefits paid from superannuation plans that are not complying superannuation plans are dealt with in Division 305.

Subdivision 301‑B—Member benefits: general rules

Table of sections

Member benefits—recipient aged 60 or above
301‑10 All superannuation benefits are tax free

Member benefits—recipient aged over preservation age and under 60
301‑15 Tax free status of tax free component
301‑20 Superannuation lump sum—taxable component taxed at 0% up to low rate cap amount, 15% on remainder
301‑25 Superannuation income stream—taxable component attracts 15% offset

Member benefits—recipient aged under preservation age
301‑30 Tax free status of tax free component
301‑35 Superannuation lump sum—taxable component taxed at 20%
301‑40 Superannuation income stream—taxable component is assessable income, 15% offset for disability benefit

Member benefits—recipient aged 60 or above

301‑10  All superannuation benefits are tax free
  If you are 60 years or over when you receive a *superannuation benefit, the benefit is not assessable income and is not *exempt income.
Note 1: Your superannuation benefit may be a superannuation lump sum or a superannuation income stream benefit: see sections 307‑65 and 307‑70.
Note 2: If your superannuation benefit includes an element untaxed in the fund, see Subdivision 301‑C.
Note 3: If your superannuation benefit is a superannuation income stream benefit that is defined benefit income, see Subdivision 303‑A.

Member benefits—recipient aged over preservation age and under 60

301‑15  Tax free status of tax free component
  If you are under 60 years but have reached your *preservation age when you receive a *superannuation benefit, the *tax free component of the benefit is not assessable income and is not *exempt income.
Note 1: Your superannuation benefit may be a superannuation lump sum or a superannuation income stream benefit: see sections 307‑65 and 307‑70).
Note 2: For tax free component, see Subdivision 307‑C.

301‑20  Superannuation lump sum—taxable component taxed at 0% up to low rate cap amount, 15% on remainder
 (1) If you are under 60 years but have reached your *preservation age when you receive a *superannuation lump sum, the *taxable component of the lump sum is assessable income.
Note 1: For taxable component, see Subdivision 307‑C.
Note 2: If your lump sum includes an element untaxed in the fund, see Subdivision 301‑C.
 (2) You are entitled to a *tax offset that ensures that the rate of income tax