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Tax and superProvide your tax file number (PDF 100kb). You don’t have to do this, but it may save you tax Superannuation is concessionally taxed. Read how in our fact sheet Super taxes, caps, payments, thresholds and rebates. Taxation of lump sum benefits from taxed funds#
NOTE: The government has introduced a temporary flood levy on income for the 2011-12 financial year only. Your payments may be subject to the flood levy, depending on the amount and the components of the benefit or income payment. To determine whether the flood levy will apply to a superannuation benefit or payment, we recommend that you seek professional tax advice.
# Medicare levy (currently 1.5%) is to be added to rates shown (except a nil rate). As of 1 July 2007 there is no tax payable on a lump sum benefit taken, or an income stream payment received, on or after the age of 60. Tax on amounts for those permanently departing AustraliaWhere a superannuation benefit is being paid to someone permanently departing Australia as a Departed Temporary Resident Payment (DASP), the withholding tax rate is:
Should you be contributing more to super?Are you taking full advantage of the tax incentives that apply to superannuation? |

