Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 301 - Superannuation member benefits paid from complying plans etc.  

Subdivision 301-D - Departing Australia superannuation payments  

SECTION 301-170   Departing Australia superannuation payments  

301-170(1)    
A *superannuation lump sum is a departing Australia superannuation payment if it:

(a)    is paid to a person who has departed Australia; and

(b)    is paid:

(i) in accordance with regulations under the Superannuation Industry (Supervision) Act 1993 or the Retirement Savings Accounts Act 1997 that are specified in regulations made for the purposes of this definition; or

(ii) in accordance with section 67A of the Small Superannuation Accounts Act 1995 ; or

(iii) by an exempt public sector superannuation scheme (within the meaning of section 10 of the Superannuation Industry (Supervision) Act 1993 ) and is made in accordance with rules of the fund that are substantially similar to the regulations specified as mentioned in subparagraph (i) .

301-170(2)    

Also, a *superannuation lump sum is a departing Australia superannuation payment if it is paid under subsection 20H(2) , (2AA) , (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .

301-170(3)    

Despite subsection (2) , a *superannuation lump sum paid under subsection 20H(2) , (2AA) , (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 because a person has been identified in a notice under section 20C of that Act is not a departing Australia superannuation payment if, when it is paid, the Commissioner is satisfied that:

(a)    the person has not been, under the Migration Act 1958 , the holder of a temporary visa that ceased to be in effect at least 6 months ago; or

(b)    the person has been the holder of such a visa but has not left Australia (within the meaning of that Act) at least 6 months ago but after starting to be the holder of the visa.

301-170(4)    

Despite subsection (2) , a *superannuation lump sum that is paid under subsection 20H(2) , (2AA) , (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 and is prescribed by the regulations for the purposes of this subsection is not a departing Australia superannuation payment .