Untaxed Element Calculator

This calculator and its associated report are provided for education purposes and without any guarantees or warranties of accuracy or suitability either express or implied. As a condition of your use of this tool you accept full responsibility for all aspects of the application of its results.

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Should be later than Date of Birth  

Should be later than Eligible Service Date  

Should be later than Date of Death  

Should be smaller than Total Lump Sum Benefit

If no untaxed element is applicable to this lump sum benefit the components would be:

Taxed Taxable Component $0
Untaxed Taxable Component $0
Tax Free Component $0
Total Lump Sum Benefit $0

This would result in a non-tax dependant lump sum benefit recipient paying 15% plus medicare on a taxable benefit paid directly from the superannunation fund (Medicare is not payable if paid via the estate.)

The tax would therefore be $0 plus medicare levy.

If an untaxed element is applicable to this benefit, it is calculated in accordance with Section 307-290 of the ITAA. The components would be altered as follows:

Taxed Taxable Component $0
Untaxed Taxable Component $0
Tax Free Component $0
Total Lump Sum Benefit $0

The lump sum tax payable would now be $ on the Taxed Taxable component and $ on the Untaxed Taxable component plus medicare levy. This is total tax payable of , an increase of .