Income Tax (Transitional Provisions) Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 307 - Key concepts relating to superannuation benefits  

SECTION 307-127   Extension - income stream replacing an earlier one because of an involuntary roll-over  

307-127(1)    
Section 307-125 also applies to a superannuation income stream (the later income stream ) if:

(a) the later income stream commenced using only the amount of an involuntary roll-over superannuation benefit:

(i) covered by paragraph 306-12(a) of the Income Tax Assessment Act 1997 ; and

(ii) paid from a superannuation interest (the earlier interest ); and

(b) immediately before that benefit was paid:

(i) the earlier interest was supporting another superannuation income stream (the earlier income stream ); and

(ii) section 307-125 of this Act applied to the earlier income stream because of subsection (1) of that section.

307-127(2)    
Section 307-125 applies to the later income stream as if:

(a) references in that section to the later income stream (in relation to a time, or event happening, before the payment of that involuntary roll-over superannuation benefit) include references to the earlier income stream; and

(b) references in that section to the superannuation interest supporting the later income stream (in relation to a time, or event happening, before the payment of that benefit) include references to the earlier interest.