Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to you if:
(a) you are the trustee of a deceased estate; and
(b) you receive a * superannuation death benefit in your capacity as trustee.
(2) To the extent that 1 or more beneficiaries of the estate who were * death benefits dependants of the deceased have benefited, or may be expected to benefit, from the * superannuation death benefit:
(a) the benefit is treated as if it had been paid to you as a person who was a death benefits dependant of the deceased; and
(b) the benefit is taken to be income to which no beneficiary is presently entitled.
(3) To the extent that 1 or more beneficiaries of the estate who were not * death benefits dependants of the deceased have benefited, or may be expected to benefit, from the * superannuation death benefit:
(a) the benefit is treated as if it had been paid to you as a person who was not a death benefits dependant of the deceased; and
(b) the benefit is taken to be income to which no beneficiary is presently entitled.
Table of sections
Lump sum death benefits to dependants are tax free
302 - 60 All of superannuation lump sum is tax free
Superannuation income stream--either deceased died aged 60 or above or dependant aged 60 or above
302 - 65 Superannuation income stream benefits are tax free
Superannuation income stream--deceased died aged under 60 and dependant aged under 60
302 - 70 Superannuation income stream--tax free status of tax free component
302 - 75 Superannuation income stream--taxable component attracts 15% offset
Death benefits to dependant--elements untaxed in fund
302 - 80 Treatment of element untaxed in the fund of superannuation income stream death benefit to dependant
302 - 85 Deceased died aged 60 or above or dependant aged 60 years or above--superannuation income stream--element untaxed in fund attracts 10% offset
302 - 90 Deceased died aged under 60 and dependant aged under 60--superannuation income stream--element untaxed in fund is assessable income