Approved superannuation fund payments remain exempt in specified cases, while excess employer contributions and non-exempt payouts face tax treatment.

Payment from an approved superannuation fund is exempt when made on death, on commutation of annuity on retirement or incapacity, by refund of contributions in specified cases, or by transfer to a notified pension scheme. Employee contributions are deductible subject to the statutory limit, employer contributions are exempt only up to the prescribed aggregate ceiling, and excess contributions are taxable as a perquisite. Where non-exempt payments are made during lifetime, tax must be deducted at the employee's average rate for the relevant period and remitted by the trustees.

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