Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 301.175

  (1)   Despite anything else in this Division, if you receive a * superannuation benefit that is a * departing Australia superannuation payment, the benefit is not assessable income and is not * exempt income.

  (2)   However, you are liable to pay income tax on that payment at the rate declared by the Parliament in respect of * departing Australia superannuation payments.

Note 1:   The tax is imposed in the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007 and the amount of the tax is set out in that Act.

Note 2:   See the Taxation Administration Act 1953 for provisions dealing with the payment of the tax.

Table of sections

301 - 225   Superannuation lump sum member benefits less than $200 are tax free