Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INCOME TAX ASSESSMENT ACT 1997 - SECT 301.175

Treatment of departing Australia superannuation benefits

             (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



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback