Definitions for "Concessional Component"
This is a component of an ETP comprised of either bonafide redundancy, invalidity of approved early retirement payments issued prior to 1 July 1994.
Only ETPs rolled over before 1 July 1994 can have a concessional component. The concessional component relates to a ‘golden handshake' paid under an early retirement scheme, or an invalidity or redundancy payment.
superannuation benefits received before 1 July 1994 which relate to certain disablement, redundancy and approved early retirement benefits.