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Super income stream tax tables

A summary of the taxation of a super income stream paid with an element taxed and untaxed in the fund.

Last updated 10 September 2024

Element taxed in the fund of a super income stream

The following table summarises the taxation of a super income stream paid with an element taxed in the fund.

The tax-free component isn't included. This component is non-assessable non-exempt income in all cases.

Table 15: Element taxed – super income stream tax rates

Age of recipient

Income stream

Age 60 years or more

Not assessable, not exempt income

At or above preservation age and under 60 years

Taxed at marginal tax rates – Tax offset of 15% is available

Under preservation age

Taxed at marginal tax rates, with no tax offset – Tax offset of 15% is available if a disability super benefit

Medicare levy will apply if amounts are assessable.

Note:

  • A temporary 2% levy applies for the 2014–15, 2015–16 and 2016–17 income years to individuals with a taxable income of more than $180,000 per year. The levy is payable at a rate of 2% of each dollar of a taxpayer’s taxable income over $180,000. This will cease to apply from 1 July 2017.
  • The Medicare levy rate is 2% from 1 July 2014 for the 2014–15 income year and later income years, it is applied in addition to the maximum rate of tax for each income component.
  • The Medicare levy rate is 1.5% up to and including 30 June 2014 and is applied in addition to the maximum rate of tax for each income component.
  • In the 2011–12 income year the flood levy may apply where an individual's taxable income exceeds $50,000. We have published information to help you work out if the flood levy applies to you.

Element untaxed in the fund of a super income stream

The following table summarises the taxation of a super member income stream paid with an element untaxed in the fund.

The tax-free component isn't included. This component isn't assessable and not exempt income in all cases.

Table 16: Element untaxed – super income stream tax rates

Age of recipient

Income stream

60 years or more

Taxed at marginal rates, with a 10% tax offset

At or above preservation age and under 60 years

Taxed at marginal rates, with no tax offset

Under preservation age

Taxed at marginal rates, with no tax offset

Medicare levy will apply if amounts are assessable.

Note:

  • A temporary 2% levy applies for the 2014–15, 2015–16 and 2016–17 income years to individuals with a taxable income of more than $180,000 per year. The levy is payable at a rate of 2% of each dollar of a taxpayer’s taxable income over $180,000. This will cease to apply from 1 July 2017.
  • The Medicare levy rate is 2% from 1 July 2014 for the 2014–15 income year and later income years, it is applied in addition to the maximum rate of tax for each income component.
  • The Medicare levy rate is 1.5% up to and including 30 June 2014 and is applied in addition to the maximum rate of tax for each income component.
  • In the 2011–12 income year the flood levy may apply where an individual's taxable income exceeds $50,000. We have published information to help you work out if the flood levy applies to you.

Annuities and life expectancy factors

The prescribed life tables referred to in section 27H of the Income Tax Assessment Act 1936 can be obtained from the Australian Government Actuary websiteExternal Link.

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