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Other Non-taxable Payments
Last amended: 5 March 2013
Funeral benefits
Funeral benefits paid in respect of a deceased veteran or the deceased dependant of a deceased veteran are not taxable.
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Pension Bonus Scheme
Lump sum payments made under the pension bonus scheme are not taxable.
Pension Loans Scheme
The loan component of any amount received under the pension loans scheme is not taxable. If the fortnightly pension instalment is comprised of both an amount under the pension loans scheme and an amount of service pension or income support supplement (ISS), only the pension loans scheme amount is non-taxable. The tax status of the portion of the pension instalment that is service pension or ISS is not affected by inclusion in the pension instalment of an amount under the pension loans scheme.
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Clean Energy Payments
Clean energy advance and supplement payments are not taxable.
Funeral benefits
Taxable components of the pension loans scheme
ISS is an income support payment that may be paid to eligible war widows and widowers under the VEA and persons receiving wholly dependent partners' compensation under the MRCA, and who satisfy the means tests. It is an indexed rate, increased twice-yearly in March and September in line with changes to the cost of living and/or average wages. Income Support Supplement (ISS) legislation commenced on 20 March 1995. It is a payment created to replace the ceiling rate income support age, carer, wife and disability support pensions, paid to war widows/widowers by Centrelink.
A service pension is an income support payment broadly equivalent to the social security age and disability support pensions. It may be paid once a veteran or partner has reached the nominated age or is incapacitated for work.