Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations 2018 (F2018L00676)
Schedule 1 Amendments
Retirement Savings Accounts Regulations 1997
4 Schedule 2 (table item 109)
Repeal the item, substitute:
|
109 |
The Regulator has determined under subregulation 4.22A(2) that a specified amount of benefits in the RSA may be released on a compassionate ground |
A single lump sum, not exceeding the amount determined, in writing, by the Regulator, being an amount that: (a) taking account of the ground and of the person's financial capacity, is reasonably required; and (b) in the case of the ground mentioned in paragraph 4.22A(1)(b) - in each 12 month period (beginning on the date of first payment), does not exceed an amount equal to the sum of: (i) 3 months' repayments; and (ii) 12 months' interest on the outstanding balance of the loan. |