SUPERANNUATION (DEPARTING AUSTRALIA SUPERANNUATION PAYMENTS TAX) ACT 2007

SECTION 5   AMOUNT OF TAX  

5(1)    
The amount of the tax is as follows:

(a) for the tax free component of the departing Australia superannuation payment - nil;

(b) for the element taxed in the fund of the taxable component of the departing Australia superannuation payment - 35%;

(c) for the element untaxed in the fund of the taxable component of the departing Australia superannuation payment - 45%.

5(2)    

However, if the departing Australia superannuation payment is a roll-over superannuation benefit paid under subsection 20H(2) , (2AA) or (2A) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 , the amount of the tax for the element untaxed in the fund of the taxable component of the payment is:

(a) for the amount (if any) of the element that is not an excess untaxed roll-over amount - 45%; and

(b) for the amount (if any) of the element that is an excess untaxed roll-over amount - nil.

Note:

The tax for the excess untaxed roll-over amount is set at nil to avoid double taxation of that amount, which is also subject to tax under the Superannuation (Excess Untaxed Roll-over Amounts Tax) Act 2007 .

5(3)    

Despite subsections (1) and (2), if the departing Australia superannuation payment:

(a) is paid to a person on or after 1 July 2017; and

(b) includes amounts attributable to superannuation contributions made while the person was a working holiday maker (within the meaning of the Income Tax Rates Act 1986 );

those subsections apply as if the percentages in paragraphs (1)(b) and (c) and (2)(a) were 65%.