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Zoe65(Newbie)Newbie
25 Aug 2024

I am over 65 and withdrew a large lump sum from my UniSuper. I was told that that the lump sum is tax free. UniSuper sent me a letter confirming the payment but did not send any PAYG statement for tax due. My understanding is that the full amount was taxed. I am now completing my Australian tax return. Do I need to record the Super lump sum in my tax return? From various Help sections it seems that I do not have to record it.

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309 views
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Bruce4Tax(Taxicorn)Taxicorn
25 Aug 2024

My understanding is that the full amount was taxed.


That means taxed in the super fund = tax free benefit after age 60


Do I need to record the Super lump sum in my tax return?


No



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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
25 Aug 2024

My understanding is that the full amount was taxed.


That means taxed in the super fund = tax free benefit after age 60


Do I need to record the Super lump sum in my tax return?


No



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Tax on super lump sum for over 65 | ATO Community