Variation of PAYG withholding for certain superannuation beneficiaries

An instrument varying the rate of withholding for certain superannuation income stream beneficiaries who turn 60 during the financial year has been registered on the Federal Register of Legislative Instruments. It applies from 1 July 2007 and prescribes reduced rates of withholding from payments made from a taxed element of a superannuation income stream benefit to a payee who:

• is 59 years of age
  

• will turn 60 in the financial year in which the payment is made