| Superannuation death benefit | Age of deceased | Age of recipient | Taxation for dependants* | Taxation for non-dependants |
| Lump Sum | Any age | Any age | Tax free (not assessable, not exempt income) | Taxable component (taxed element) is subject to 15% tax
Taxable component (untaxed element) is subject to 30% tax |
| Income Stream previously commenced and have nominated a reversionary beneficiary | Any age | Any age | N/A (see below) | Not applicable – can only receive a lump sum |
| Income Stream previously commenced and have nominated a reversionary beneficiary | 60 and above | Any age | Taxable component (taxed element) is tax free (not assessable, not exempt income)
Taxable component (untaxed element) is subject to marginal tax rates and the person is entitled to a 10% tax offset upon this amount |
N/A |
| Income Stream previously commenced and have nominated a reversionary beneficiary | 55-60 | Above age 60 | Taxable component (taxed element) is tax free (not assessable, not exempt income)
Taxable component (untaxed element) is subject to marginal tax rates and the person is entitled to a 10% tax offset upon this amount |
N/A |
| Income Stream previously commenced and have nominated a reversionary beneficiary | 55-60 | Below age 60 | Taxable component (taxed element) is subject to marginal tax rates and the person is entitled to a 15% tax offset upon this amount
Taxable component (untaxed element) is subject to marginal tax rates |
N/A |
| Note: all Tax Free Components (i.e. undeducted member contributions) are paid out to beneficiaries tax free. |
Accountants | Advisors