Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-30
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SUPERANNUATION
Division 307
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Key concepts relating to superannuation benefits
Subdivision 307-C
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Components of a superannuation benefit
SECTION 307-120
Components of superannuation benefit
307-120(1)
Work out the following components of a *superannuation benefit under this Subdivision: (a) the tax free component ; (b) the taxable component .
307-120(2)
Work out those components under: (a) if the benefit is not mentioned in paragraph (b) , (c) , (d) , (e) or (f) - section 307-125 ; or (b) if the benefit is a *superannuation guarantee payment - section 307-130 ; or (c) if the benefit is a *superannuation co-contribution benefit payment - section 307-135 ; or (d) if the benefit is a *contributions-splitting superannuation benefit - section 307-140 ; or (e) if the benefit is a payment under subsection 17(2) , (2AB) or (2AC) , 20H(2) , (2AA) , (2A) or (3) , 20QF(2) , (5) or (6) , 21E(2) , (5) or (6) , 22B(2) , (5) or (6) , 24G(2) , (3A) or (3B) or 24NA(2) , (3) or (4) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 - section 307-142 ; or (f) if the benefit is a payment by the Commissioner under subsection 131-80(1) or (3) in Schedule 1 to the Taxation Administration Act 1953 - section 307-143 .
307-120(3)
Those components may be modified under sections 307-145 (which deals with certain disability benefits) and 307-150 (which deals with certain *elements untaxed in fund).
View history note
Hide history noteWork out the following components of a *superannuation benefit under this Subdivision: (a) the tax free component ; (b) the taxable component .
307-120(2)
Work out those components under: (a) if the benefit is not mentioned in paragraph (b) , (c) , (d) , (e) or (f) - section 307-125 ; or (b) if the benefit is a *superannuation guarantee payment - section 307-130 ; or (c) if the benefit is a *superannuation co-contribution benefit payment - section 307-135 ; or (d) if the benefit is a *contributions-splitting superannuation benefit - section 307-140 ; or (e) if the benefit is a payment under subsection 17(2) , (2AB) or (2AC) , 20H(2) , (2AA) , (2A) or (3) , 20QF(2) , (5) or (6) , 21E(2) , (5) or (6) , 22B(2) , (5) or (6) , 24G(2) , (3A) or (3B) or 24NA(2) , (3) or (4) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 - section 307-142 ; or (f) if the benefit is a payment by the Commissioner under subsection 131-80(1) or (3) in Schedule 1 to the Taxation Administration Act 1953 - section 307-143 .
307-120(3)
Those components may be modified under sections 307-145 (which deals with certain disability benefits) and 307-150 (which deals with certain *elements untaxed in fund).
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