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Item 8 - Australian superannuation lump sum payments

If you've received more than one Super lump sum payment summary from a Fund, complete a separate PL for each. This schedule is only transmitted to the ATO via PLS whne there is more than one PL attached to the return.

See Item 8 - Australian superannuation lump sum payments on the ATO website for further information.

Payment Details

Enter the Payment details as disclosed on the PAYG Payment Summary-Australian superannuation lump sum.

The fields are described below in the order they appear in the return:

  • Tax withheld

  • Type

  • Date of payment

  • Total tax withheld amount

  • Total taxable component - Taxed element

  • Payer's ABN

  • Total Taxable component - Untaxed element

Tax Offset on superannuation lump sums

The taxpayer may be entitled to a tax offset to ensure that certain elements of the superannuation lump sum are only taxed up to a maximum concessional rate of tax.

Tax will calculate any offset available in accordance with the rates and thresholds for the current income year and include it in the F4 estimate.

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