Income protection benefit via superannution policy - paid as lump sum

Question

 · Accepted Answer

Bruce4Tax · Answer

If no, can I seek a private ruling on this as an individual taxpayer? You can always apply for a ruling, but the court cases have been very clear that a payment purely for replacement of income is always taxable. If the final payment is a super benefit for ill health retirement, the situation would be different. Best to ask the super fund about how the payment would be treated.

Explore tax & super topicsExplore tax & super topics

About usAbout us