My fiancé passed away and I am the recipient of her super and life insurance. The house mortgage is in both of our names so I assume as a de facto, I am a financial dependent as well. On this basis, does this mean I don't pay tax on any of the super and/or life insurance I receive?
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Hi @Cvickery
I'm really sorry for your loss.
Under both super and tax laws you're considered a dependent of the deceased.
When a Super death benefit is paid to a dependent as a lump sum then it's tax-free.
If you receive it as an income stream then tax will apply.
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Hi @Cvivkery,
We will do some research and let you know.
Hi @Cvickery
I'm really sorry for your loss.
Under both super and tax laws you're considered a dependent of the deceased.
When a Super death benefit is paid to a dependent as a lump sum then it's tax-free.
If you receive it as an income stream then tax will apply.
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