Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 280 - Guide to the superannuation provisions  

Investment phase  

SECTION 280-20   Investment phase  

280-20(1)    
Contributions that can be deducted are assessable income of the superannuation provider. Contributions that cannot be deducted are not assessable income of the superannuation provider. (There are some exceptions.)

280-20(2)    
Earnings on the investment of amounts in a superannuation plan are assessable income of the superannuation provider.

280-20(3)    
The superannuation provider's taxable income is generally taxed at the concessional rate of 15%.

280-20(4)    
However, superannuation providers pay no tax on earnings from the assets that support the payment of benefits in the form of income streams, once the income streams have commenced.