Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 301 - Superannuation member benefits paid from complying plans etc.  

Subdivision 301-D - Departing Australia superannuation payments  

SECTION 301-175   Treatment of departing Australia superannuation benefits  

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.

301-175(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.