Income Tax Assessment (1997 Act) Regulations 2021

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 307 - Key concepts relating to superannuation benefits  

Subdivision 307-D - Superannuation interests  

SECTION 307-200.03   MEANING OF SUPERANNUATION INTERESTS - TREATING A SUPERANNUATION INTEREST AS 2 OR MORE SUPERANNUATION INTERESTS (PUBLIC SECTOR SCHEMES)  

307-200.03(1)    
For the purposes of subsection 307-200(1) of the Act, a superannuation interest in a public sector superannuation scheme is to be treated as the 2 superannuation interests referred to in subsection (3) in the circumstances specified in subsection (2).

307-200.03(2)    
The interest is to be treated as 2 interests if:

(a)    the superannuation benefit that is to be paid from the scheme is sourced:

(i) partly from contributions made into the scheme or earnings on those contributions; and

(ii) partly from one or more other sources; or

(b)    the superannuation benefits that are to be paid from the scheme are sourced:

(i) partly from contributions made into the scheme or earnings on those contributions; and

(ii) partly from one or more other sources.

307-200.03(3)    
The 2 interests are:

(a)    an interest that consists of the contributions made into the scheme and the earnings on those contributions; and

(b)    an interest that consists of the remainder of the amount sourced from the other source or sources.

307-200.03(4)    
For the purposes of this section, an amount specified in a notice given under subsection 307-285(1) of the Act by the trustee of a scheme is not treated as contributions made into the scheme or earnings on those contributions.