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Hi   I am now 65 1/2 retired and receiving a DFRDB pension should I be paying TAX on that? I also receive a pension (compensation) from Defence for my injuries (EDA) Should I be paying tax on that?

 

Thankyou Ray

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ATO Certified Response

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Hi @Lundberg

 

Welcome to our Community.

 

@macfanboy is correct. While many super income streams (pensions) aren't taxable if you are 60 or more, some still are. Super pensions like the one you are receiving are generally still declarable for people aged 60 or more.

 

You can find out more about how tax applies to your super and your requirement to declare the payment on your tax return by referring to our website.

 

You can also check out another thread where a similar question was asked recently: DFRDB Pensions

 

Regarding your compensation payment, assuming the payment that you are getting is in line with the information that @macfanboy has provided (which it appears to be), it doesn't form part of your taxable income. In turn, you don't need to declare it in the income section of your tax return.

 

For more information about amounts that you do not pay tax on, refer to our website.

 

Hope this helps.

 

Thanks,

 

ChrisR

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ATO Certified Response

Taxicorn

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As you worked for the government no tax was paid for the super going in so tax will be paid on the super coming out.

https://www.csc.gov.au/-/media/Files/DFRDB/Factsheets/DB05-dfrdb-taxation-of-lump-sum-benefits.pdf

 

The EDA pension should be tax-free

 

http://clik.dva.gov.au/compensation-and-support-policy-library/part-11-administration-payments/116-t...

Highlighted

Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @Lundberg

 

Welcome to our Community.

 

@macfanboy is correct. While many super income streams (pensions) aren't taxable if you are 60 or more, some still are. Super pensions like the one you are receiving are generally still declarable for people aged 60 or more.

 

You can find out more about how tax applies to your super and your requirement to declare the payment on your tax return by referring to our website.

 

You can also check out another thread where a similar question was asked recently: DFRDB Pensions

 

Regarding your compensation payment, assuming the payment that you are getting is in line with the information that @macfanboy has provided (which it appears to be), it doesn't form part of your taxable income. In turn, you don't need to declare it in the income section of your tax return.

 

For more information about amounts that you do not pay tax on, refer to our website.

 

Hope this helps.

 

Thanks,

 

ChrisR