Income Tax Assessment Amendment (Superannuation) Regulations 2024 (F2024L00857)

Schedule 1   Amendments

Income Tax Assessment (1997 Act) Regulations 2021

2   In the appropriate position in Chapter 7

Insert:

Part 1000-5 - Transitional matters relating to the Income Tax Assessment Amendment (Superannuation) Regulations 2024

1000-5.01 Application of amendments

Section 294-25.03 applies if:

(a) you start to be the retirement phase recipient of the new stream on or after the commencement of this section; or

(b) both:

(i) you started to be the retirement phase recipient of the new stream on or after 1 July 2017 and before the commencement of this section; and

(ii) the amount of the transfer balance debit referred to in paragraph 294-25.03(1)(e) is less than the special value, on the day you start to be the retirement phase recipient of the new stream, of the new stream.