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Are you eligible for Australian super income stream tax offset?

If you have shown income from an Australian superannuation income stream on your tax return, you may be able to claim an offset on either 15% of the Taxed elements or 10% of the untaxed elements of your superannuation income stream benefit. You can find the tax offset amount on your PAYG payment summary.

If you have not reached your preservation age you cannot get an offset on the taxed element of your superannuation income stream unless it was either a disability superannuation benefit or a death benefit income stream.

Similarly, you cannot claim a tax offset for the untaxed element of any superannuation income stream if you are under 60 years old unless the superannuation income stream is a death benefit income stream and the deceased died after turning 60 years old.

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