Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-30
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SUPERANNUATION
Division 294
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Transfer balance cap
Subdivision 294-C
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Transfer balance debits
Guide to Subdivision 294-C
SECTION 294-75 What this Subdivision is about
View history note
Hide history noteSECTION 294-75 What this Subdivision is about
A debit arises in your transfer balance account when superannuation income streams that were previously credited (because they receive the earnings tax exemption) are reduced (other than by draw-downs or investment losses) or lose the earnings tax exemption.
A debit also arises in your transfer balance account when you make a contribution relating to a structured settlement or personal injury, or where certain events occur that result in you having reduced superannuation.
| Operative provisions | |
| 294-80 | Transfer balance debits |
| 294-85 | Certain events that result in reduced superannuation |
| 294-90 | Payment splits |
| 294-95 | Payment splits - no double debiting |
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