Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 307 - Key concepts relating to superannuation benefits  

Subdivision 307-A - Superannuation benefits generally  

SECTION 307-10  

307-10   Payments that are not superannuation benefits  

A payment of any of the following kinds is not a superannuation benefit :

(a)    

an amount payable to a person under an income stream because of the person's temporary inability to engage in *gainful employment;

(aa)    

a benefit to which subsection 26AF(1) or 26AFA(1) of the Income Tax Assessment Act 1936 applies;

(ab)    

an amount required by the Bankruptcy Act 1966 to be paid to a trustee;

(b)    an amount:

(i) received by you, or to which you are entitled, as the result of the commutation of a pension payable from a *constitutionally protected fund; and

(ii) wholly applied in paying any superannuation contributions surcharge (as defined in section 38 of the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997 );

(c)    

an amount:

(i) received by you, or to which you are entitled, as the result of the commutation of a pension payable by a superannuation provider (within the meaning of the Superannuation Contributions Tax (Assessment and Collection) Act 1997 ) and;

(ii) wholly applied in paying any superannuation contributions surcharge (as defined in section 43 of that Act);

(d)    

a payment of a pension or an *annuity from a *foreign superannuation fund;

(e)    

a payment that:

(i) is paid by the *superannuation provider of a *superannuation fund at your direction or request; and

(ii) relates directly to personal advice (within the meaning of the Corporations Act 2001 ) provided to you in relation to your interest in the fund.