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Tax on Lump Sums

The lump sum will be paid proportionately from the taxable and tax-free components of your superannuation benefits.

Tax Treatment
Aged 55 to 59
Aged 60 or Over
Tax Free
Tax Free
Amount up to the low rate cap amount is tax free and the balance taxed at 17%
Tax Free

 * The tax-free component consists of undeducted contributions, post 1994 invalidity, CGT exempt, pre-July 1983, and any after-tax contributions made from 1 July 2007. No tax is payable on income drawn from these components.
**The taxable component is the total benefit paid less the tax-free component of the benefit.