Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 302 - Superannuation death benefits paid from complying plans etc.  

Subdivision 302-B - Death benefits to dependant  

Death benefits to dependant - elements untaxed in fund

SECTION 302-85   Deceased died aged 60 or above or dependant aged 60 years or above - superannuation income stream: element untaxed in fund attracts 10% offset  

302-85(1)    
The *element untaxed in the fund of a *superannuation income stream benefit that you receive because of the death of a person of whom you are a *death benefits dependant is assessable income in either or both of the following cases:

(a) you are 60 years or over when you receive the benefit;

(b) the deceased died aged 60 or above.

302-85(2)    
You are entitled to a *tax offset equal to 10% of the *element untaxed in the fund of the benefit.

Note:

If your superannuation income stream benefit is defined benefit income, see Subdivision 303-A .