S 140UA repealed by No 15 of 2007, s 3 and Sch 1 item 6, applicable to the 2007-2008 income year and later years. S 140UA formerly read:
SECTION 140UA COMMUTATION OF PENSION OR ANNUITY UNDER PAYMENT SPLIT
140UA(1)
If:
(a)
a payer commences or has commenced to make payments of:
(i)
a superannuation pension to a person (the
first person
) in respect of an interest that a person has as a member of a superannuation fund; or
(ii)
an eligible annuity (within the meaning of Part VIIIB of the
Family Law Act 1975
) to a person (the
first person
); and
(b)
there is a commutation or partial commutation of the pension or annuity at a time when a payment split applies in relation to that interest or annuity;
then:
(c)
if an ETP is made in relation to the first person, or in relation to the non-member spouse in relation to that interest or annuity, as a result of the commutation or partial commutation of the pension or annuity
-
subsections
140R(1)
and
140T(1)
apply in relation to that ETP and subsections
140R(1A)
and
140T(2B)
do not apply; and
(d)
if a residual pension or a residual annuity is payable to the first person, or to the non-member spouse in relation to that interest or annuity, on the commutation or partial commutation of the pension or annuity
-
subsections
140R(1)
and
140T(1)
apply in relation to that residual pension or annuity and subsections
140R(1B)
and
140T(2C)
do not apply.
History
S 140UA(1) amended by No 78 of 2005.
140UA(2)
If:
(a)
paragraph (1)(c) or (d) applies in relation to the non-member spouse; and
(b)
paragraph
140ZC(2)(b)
or (c) would otherwise apply in relation to the ETP or residual pension or annuity concerned;
then paragraph
140ZC(2)(b)
or (c), as the case may be, does not apply.
History
S 140UA(2) amended by No 78 of 2005.
S 140UA inserted by No 114 of 2001.
View history note
Hide history note