A superannuation lump sum is generally an ad-hoc cash payment from a super fund. You can usually withdraw more than one lump sum, but regular withdrawals from a super fund are generally known as a retirement income stream.
The following articles refer to Lump sums and superannuation.
Q: I am an Australian citizen living in the UK and I have an Australian super fund accumulated from 1986-1992 and now growing with investment earnings over time. Additionally, I continue to hold bank accounts in Australia. I am 52 and I intend retiring at age 60. When I [...]
Q: If I purchased a rental property in my SMSF for say $200,000 five years ago and the house is now valued at $300,000 in the SMSF what will be the capital base for the calculation of future capital gains tax (CGT) if I transfer the house out of the fund? [...]
When you retire early, you’re going to have to make a few decisions. The tax implications of your retiring before the age of 60 can depend on whether you take your super as a lump sum and/or income stream.
Are you taking your super as a lump sum, an income stream or [...]
If you’re aged 60 and retired, you can receive your superannuation benefits tax-free — as a lump sum or as an income stream (regular payments over a period of time). It sounds incredible but it is certainly true. You can enjoy a tax-free income in retirement assuming you have sufficient super savings to deliver you [...]
A superannuation benefit can be made up of two components — tax-free and taxable, which is more straightforward than the rules that applied before July 2007. Before July 2007, taking a super benefit involved up to eight different benefit components.
The rules that have applied since July 2007, are a lot simpler for Australians considering retiring [...]
If you retire before the age of 60, your super benefits are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax.
If you’re willing to wait until you turn 60 before you retire, you can automatically [...]
Contrary to pre-Budget announcements, the Government is not proceeding with the measure to include gross tax-free superannuation pension income in the adjusted taxable income test for the Commonwealth Seniors Health Card.
The Budget papers use the term ‘gross tax-free superannuation income’ so I assume that lump withdrawals are also excluded from [...]
Hi - I'm Trish Power and I am the author of Superannuation For Dummies and many other books on super and investing.And guess what! This site, SuperGuide, is the only INDEPENDENT website for consumers on superannuation in Australia. Read more
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