Sunshine Coast Region, Queensland
Tax Accountant in Buderim
What a super withdrawal costs before 60, and $500 the government may add
Individual tax returns and super tax for Buderim households, employees and sole traders, from a CPA practice.
Buderim, on a mountain about 180 metres high 7 km south-west of Maroochydore, had 31,430 residents in the suburb in the 2021 Census, with a median age of 46.
A mountain of coffee and ginger
Buderim in brief.
By 1911 Buderim was the largest coffee-growing area in Queensland, and its ginger factory, opened in 1942, became the largest of its kind in the Southern Hemisphere before moving near Yandina in 1980. Buderim Mountain State School opened on 5 July 1875. The name means honeysuckle or red soil, or may come from the Yugambeh word budherahm, meaning sacred or spiritual.
Three super questions
A lump sum before preservation age
Why it happens
Someone under preservation age is able to take a super benefit as a lump sum, for example under a condition of release.
Why it matters
Under preservation age, the taxed element of the taxable component is taxed at your marginal rate or 22%, whichever is lower, and the untaxed element at your marginal rate or 32%, whichever is lower, up to the untaxed plan cap. The tax-free component isn't taxed. If you haven't given the fund your TFN, it withholds 47% from the taxable component.
How we help
Expert SMSF administration and strategic advice for your future. Give your fund your tax file number before any payment.
Between preservation age and 60
Why it happens
A member who has reached preservation age but is under 60 takes a lump sum.
Why it matters
A lifetime low rate cap applies. Within it, the taxed element is taxed at 0%; above it, at your marginal rate or 17%, whichever is lower.
How we help
Ask your fund for the components of your balance before you withdraw.
The government co-contribution, including for sole traders
Why it happens
An employee or sole trader on a modest income makes a personal, after-tax contribution to super.
Why it matters
The government may add up to $500. For 2026-27 the lower income threshold is $49,293 and the higher $64,293, with the amount reducing between them. At least 10% of your total income must come from employment or carrying on a business; sole trader and partnership business income counts, as do salary, wages and director fees, while trust distributions, interest, rent and dividends don't.
How we help
Keep your fund's record of each personal contribution you make.
Frequently asked questions
How is a super lump sum taxed for a Buderim resident under 60?
It depends on your age and the components: under preservation age, the taxed element is taxed at your marginal rate or 22%, whichever is lower. Between preservation age and 60, a low rate cap applies.
Who can get the government co-contribution?
People with total income under the higher threshold, $64,293 for 2026-27, and at least 10% of it from employment or a business.
Does sole trader income count for the co-contribution?
Yes. Business income as a sole trader or partner counts towards the 10% test.
Where to next
Have a question?
Before you withdraw
Expert SMSF advice for secure retirement.
Lomandra Accounting is a CPA Practice, registered with the Tax Practitioners Board and an SMSF Specialist. Emma, the Director, is a Certified Practicing Accountant (CPA) with extensive experience in commercial business management, and specialises in Self-Managed Super Funds (SMSFs).
- 07 5234 9201
- admin@lomandraa.com.au
- Sunshine Coast, QLD
- Monday to Friday, 9am to 4:30pm