Superannuation Industry (Supervision) Amendment Regulations 2008 (No. 4) (282 of 2008)

Schedule 1   Amendments commencing on commencement of Temporary Residents' Superannuation Legislation Amendment Act 2008

[31]   After regulation 6.20B

insert

6.20C Cashing of benefits in a regulated superannuation fund - payment to Commissioner for Taxation

If the trustee of a regulated superannuation fund is required to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 for a member's superannuation interest in the fund, the amount must be cashed in favour of the Commissioner of Taxation as a single lump sum.

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