Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 301.25

  (1)   If you are under 60 years but have reached your * preservation age when you receive a * superannuation income stream benefit, the * taxable component of the benefit is assessable income.

  (2)   You are entitled to a * tax offset equal to 15% of the * taxable component of the benefit.

Note 1:   For taxable component , see Subdivision   307 - C.

Note 2:   If your superannuation income stream benefit includes an element untaxed in the fund, see Subdivision   301 - C.