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supertax22(Newbie)Newbie
17 Sept 2024

Hello. I am over 60 years old, and I am currently retired and receiving a government pension. I would like to withdraw about $20,000 from my super. I saw online that it is tax free to a certain amount, but I can not find the cap amounts and the tax rates. How much tax do I need to pay? How do I report this on my tax return? Can you give me the relevant links from ATO website on this?

Thankyou in advance for any help.

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1 replies
1,614 views
1 replies

Most helpful response

Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
18 Sept 2024

If you are a member of a taxed fund, then all benefits are tax free after age 60.


If your annual member statement shows "untaxed" = 0

then you are in a taxed fund.


All replies

Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
18 Sept 2024

If you are a member of a taxed fund, then all benefits are tax free after age 60.


If your annual member statement shows "untaxed" = 0

then you are in a taxed fund.


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Tax for super lump sum withdrawal over 60 years old | ATO Community