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Salary Sacrifice, draw down from transition to retirement account, tax return data

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Newbie

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Hi, I salary sacrifice and draw down from my transition to retirement account to make my take home pay the same amount.  My question is do I have to enter that amount for the year in my tax return at 'You had income from Australian superannuation or annuity funds' ?

Thanks for any help Smiley Happy

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Dynamo Registered Tax Practitioner

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Your employer will issue either a payment summary or income statement for 30 June 2020.

 

Your superannuation fund will also issue a payment summary for 30 June 2020 for your superannuation income stream.  You will want to wait for the statement as there will be tax withheld and perhaps taxed elements and untaxed elements.

 

 

 

 

2 REPLIES 2
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Most helpful response

Dynamo Registered Tax Practitioner

Replies 1

Your employer will issue either a payment summary or income statement for 30 June 2020.

 

Your superannuation fund will also issue a payment summary for 30 June 2020 for your superannuation income stream.  You will want to wait for the statement as there will be tax withheld and perhaps taxed elements and untaxed elements.

 

 

 

 

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Newbie

Replies 0

Ok, thanks very much for your reply Smiley Happy