Payment type | Reason | Accrual dates | Withholding rates | Payment summary label |
Long service leave | Normal termination (eg voluntary resignation, employment terminated due to inefficiency, retirement) | Pre-16 August 1978 | 5% of total at marginal rates | B |
16 August 1978 to 17 August 1993 | 32% | A | ||
Post-17 August 1993 | Marginal rates | Include in salary/wages | ||
Termination because of genuine redundancy, invalidity or early retirement scheme | Pre-16 August 1978 | 5% of total at marginal rates | B | |
16 August 1978 to 17 August 1993 | 32% | A | ||
Post-17 August 1993 | 32% | A | ||
Annual leave | Normal termination (eg voluntary resignation, employment terminated due to inefficiency, retirement) | Pre-18 August 1993 | 32% | A |
Post-17 August 1993 | Marginal rates | Include in salary/wages | ||
Termination because of genuine redundancy, invalidity or early retirement scheme | 32% | A | ||
Annual leave loading | Normal termination (eg voluntary resignation, employment terminated due to inefficiency, retirement) | Pre-18 August 1993 | 32% | A |
Post-17 August 1993 | Marginal rates | Include in salary/wages | ||
Termination because of genuine redundancy, invalidity or early retirement scheme | 32% | A |
Income component derived by your employee in the income year | Age of person at the end of the income year that the payment is received | Component subject to PAYG withholding | Rate of withholding | Cap to apply |
Life benefit ETP – taxable component Payment is because of: ■ early retirement scheme ■ genuine redundancy ■ invalidity ■ compensation for personal injury, unfair dismissal, harassment or discrimination. | Under preservation age | Up to the ETP cap amount | 32% | ETP cap |
Preservation age or over | Up to the ETP cap amount | 17% | ETP cap | |
All ages | Amount above the ETP cap amount | 49% | ETP cap | |
Life benefit ETP – taxable component Payment is: ■ a ‘golden handshake’ ■ non-genuine redundancy payment ■ severance pay ■ a gratuity ■ in lieu of notice ■ for unused sick leave ■ for unused rostered days off. | Under preservation age | Up to the relevant cap amount | 32% | Smallest of ETP cap and whole-of-income cap |
Preservation age or over | Up to the relevant cap amount | 17% | Smallest of ETP cap and whole-of-income cap | |
All ages | Amount above the relevant cap amount | 49% | Smallest of ETP cap and whole-of-income cap | |
Death benefit ETP paid to non-dependants – taxable component | All ages | Up to the ETP cap amount | 32% | ETP cap |
Amount above the ETP cap amount | 49% | ETP cap | ||
Death benefit ETP paid to dependants – taxable component | All ages | Up to the ETP cap amount | Nil | ETP cap |
Amount above the ETP cap amount | 49% | ETP cap | ||
Death benefit ETP paid to a trustee of a deceased estate | Nil |
Type of payment and tax component | Age of person at the date the payment is received | Amount subject to PAYG withholding | Rate of withholding |
Member benefit – taxed element of the taxable component | Under preservation age | Whole amount | 22% |
Preservation age to 59 years | Amount up to low rate cap | Nil | |
Amount above the low rate cap | 17% | ||
60 years and above | Whole amount | Nil | |
Member benefit – untaxed element of the taxable component | Under preservation age | Amount up to untaxed plan cap | 32% |
Amount above untaxed plan cap | 49% | ||
Preservation age to 59 years | Amount up to low rate cap | 17% | |
Amount above the low rate cap up to the untaxed plan cap | 32% | ||
Amount above untaxed plan cap | 49% | ||
60 years and above | Amount up to untaxed plan cap | 17% | |
Amount above untaxed plan cap | 49% | ||
Member benefit – total of preserved benefits is less than $200 | Any age | Nil – amount is | N/A |
Member benefit – terminal medical condition payment | Any age | Nil – amount is | N/A |
Death benefit paid to a dependant – taxed and untaxed elements of the taxable component | Any age | Nil – amount is | N/A |
Death benefit paid to a non-dependant – taxed element of the taxable component | Any age | Whole amount | 17% |
Death benefit paid to a non-dependant – untaxed element of the taxable component | Any age | Whole amount | 32% |
Death benefit paid to the trustee of the deceased estate | Any age | None | Nil |
Age | Taxable component of super income stream contains | Withholding applies to the following amount(s) | |
Untaxed element | Taxed element | ||
Below preservation age | Yes | Yes | Sum of untaxed and taxed elements |
No | Yes | Taxed element | |
Yes | No | Untaxed element | |
Preservation age to below 60 years | Yes | Yes | Sum of untaxed and taxed elements |
No | Yes | Taxed element | |
Yes | No | Untaxed element | |
60 years and over | Yes | Yes | Untaxed element |
No | Yes | No withholding | |
Yes | No | Untaxed element |
Age of deceased | Age of recipient | Taxable component of super death benefit income stream contains | Withholding applies to the following amount(s) | |
Untaxed element | Taxed element | |||
Below 60 years | Below 60 years | Yes | Yes | Sum of untaxed and taxed elements |
Yes | No | Untaxed element | ||
No | Yes | Taxed element | ||
60 years and over | Yes | Yes | Untaxed element | |
Yes | No | Untaxed element | ||
No | Yes | No withholding | ||
60 years and over | Yes | Yes | Untaxed element | |
Yes | No | Untaxed element | ||
No | Yes | No withholding |
Age of deceased | Age of recipient | Tax offset |
Below 60 years | Below 60 years | Taxed element x 15% Untaxed element - Nil |
60 years and over | Untaxed element × 10% | |
60 years and over | Any age | Untaxed element x 10% |