PAYG payment summary

Generally, any benefit paid from a superannuation scheme to a member or pension member who is under age 60 will be taxable.

Therefore, State Super will forward a PAYG payment summary to all pension members under the age of 60 at the end of each financial year. The PAYG payment summary confirms the amount of pension a pension member has received in that financial year and the amount of taxation deducted.

A pension member will be required to lodge an income tax return if the gross taxable amount shown on their PAYG payment summary plus any other taxable income is higher than the thresholds set by the Australian Taxation Office (ATO) or if the pension member has had tax deducted from their pension.

PAYG payment summaries are not issued to pension members who reached the age of 60 before to the start of the relevant financial year.

For additional information about taxation, please contact the Australian Taxation Office.