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  TAX - I to ZOffsets/Rebates-Not RefundableSuper Pension/Annuity Tax Offset      Sunday, 20 June 2021  

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Superannuation Pension or Annuity Tax Offset

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Not refundable.  This Offset can be used to reduce tax payable, but is not refundable, nor is it available to offset the Medicare levy.

 

   
Post 1 July 2007
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Under Age 55

 

A tax offset of 15% applies to the taxed element of the taxable component only if the payment is a disability superannuation benefit, otherwise the tax offset is NIL.

 

Age 55 to 59


A tax offset of 15% applies only to the taxed element of the taxable component.  This applies also to death benefit income streams if both the recipient and the deceased are aged less than 60.   

 

Over Age 60

 

The taxed element of the taxable component is tax free and therefore the tax offset is NIL.  The untaxed element of the taxable component is not tax free and the tax offset is 10%.  This also applies to a death benefit income stream if one or both the deceased and the recipient are aged 60 or over.   

 


   
Up to 30 June 2007
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This page was last modified on 29 December 2020

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