Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 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



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