Retirement Savings Accounts Regulations 1997

PART 4 - PAYMENT STANDARDS  

Division 4.3 - Cashing of benefits  

REGULATION 4.23B  

4.23B   CASHING OF BENEFITS IN AN RSA - PAYMENT TO COMMISSIONER OF TAXATION  

If an RSA provider is required to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 , or chooses to pay an amount to the Commissioner of Taxation under Part 3D of that Act, for a person ' s interest in an RSA, the amount must be cashed in favour of the Commissioner of Taxation as a lump sum.

Note

An amount required to be paid under the Superannuation (Unclaimed Money and Lost Members) Act 1999 must be paid by the time required under that Act.