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Undeducted purchase price calculator

Takes 5 to 15 minutes to complete

attention

As a result of the super changes, this calculator is only to be used for calculating the deductible amount of pensions and annuities which commenced to be payable between 1 July 2004 and 30 Jun 2007.


What is the undeducted purchase price calculator?

The Undeducted purchase price calculator is a tool built by the Tax Office to help people who are receiving a pension or annuity and who may be eligible for an annual exclusion associated with the payment of this pension or annuity.

Pension and annuity income from both Australian and foreign sources received by Australian residents is generally assessable in Australia unless excluded by a specific provision of the tax act or by the operation of a double tax agreement with another country.

If you contributed to a pension or annuity and did not receive a deduction for those contributions at the time you made them, you may be entitled to a tax concession in the form of an annual deductible amount. This means that part of the pension or annuity that you are receiving may be tax free.

This calculator is not intended for use in calculating the deductible amount of foreign sourced pensions or of pensions and annuities which commenced to be payable prior to 1 July 2004. The calculator is intended for use in straightforward situations and cannot be used for some pensions and annuities.

Click here to see list of excluded pensions and annuities

Click here to see an explanation of the terms used in this calculator

Information that you will need

To use this calculator, you will need to know:

If it is for a fixed term, you may also need to know whether there is a residual capital value to be returned at the end of the term.

Note: This calculator has 'hyperlinks' to allow you to link to explanations of terms that are used throughout the tool. These appear as text in a different colour font. If you put the cursor above a hyperlink, the cursor arrow will change to a small hand. If you then click the mouse button, the hyperlink will be activated and the explanation for the particular term will appear on a new web page. Following this, select the BACK button at the top left corner of your screen to return to the page with the hyperlink.

Takes 5 to 15 minutes to complete