Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 301.100

  (1)   If you are 60 years or over when you receive a * superannuation income stream benefit, the * element untaxed in the fund of the benefit is assessable income.

  (2)   You are entitled to a * tax offset equal to 10% of the * element untaxed in the fund of the benefit.

Note:   If your superannuation income stream benefit is defined benefit income, see Subdivision   303 - A.