Money Doesn’t Come Without Guidance ...
As a taxpayer, you should announce the incomes that you received from the pensions paid to you as a super income stream, annuities and some government payments. Your amount of tax for retirement income stream is dependent on the type of your income stream. The income streams are mainly two types-
Government payments are another type of benefits that are provided by the government as a pension or support service, which you need to declare on your tax return. However, some of these payments are exempt from income tax but still you need to declare them on your tax return. Government payments include disability support pension, child disability allowance, career adjustment payment, new start and youth allowance etc.
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