PART 6
-
PAYMENT STANDARDS
Division 6.7
-
Spouse contributions-splitting amounts
History
Div 6.7 inserted by SLI No 334 of 2005, reg 3 and Sch 2 item 10, effective 1 January 2006.
REGULATION 6.41
MEANING OF
TAXED SPLITTABLE CONTRIBUTION
,
UNTAXED SPLITTABLE CONTRIBUTION
AND
UNTAXED SPLITTABLE EMPLOYER CONTRIBUTION
History
Heading substituted by SLI No 189 of 2006, reg 3 and Sch 1 item 4, effective 18 July 2006.
6.41(1)
[Contributions that are taxed splittable contributions]
Subject to subregulation (2), a
taxed splittable contribution
is:
(a)
a contribution that will be included in the assessable income of an entity as:
(i)
a taxable contribution for section
274
of the Tax Act; or
(ii)
a contribution under Subdivision
295-C
of the 1997 Tax Act; or
(b)
(Repealed by SLI No 189 of 2006)
(c)
an allocated surplus contribution amount.
History
Reg 6.41(1) amended by SLI No 74 of 2007, reg 5 and Sch 3 item 72, by substituting para (a), effective 1 July 2007. Para (a) formerly read:
(a)
a contribution that is a taxable contribution for section
274
of the
Income Tax Assessment Act 1936
; or
Reg 6.41(1) amended by SLI No 189 of 2006, reg 3 and Sch 1 item 5, by omitting para (b), effective 18 July 2006. Para (b) formerly read:
(b)
a contribution that, but for the Commonwealth's inability to tax the property of a State, would be a taxable contribution for section 274 of the
Income Tax Assessment Act 1936
; or
6.41(2)
[Contributions that are not taxed splittable contributions]
Each of the following is not a
taxed splittable contribution
:
(a)
a roll-over superannuation benefit within the meaning of Division
306
of the 1997 Tax Act;
(b)
an amount allotted under this Division;
(c)
a superannuation lump sum that is paid from a foreign superannuation fund.
History
Reg 6.41(2) substituted by SLI No 74 of 2007, reg 5 and Sch 3 item 73, effective 1 July 2007. Reg 6.41(2) formerly read:
6.41(2)
Each of the following is not a
taxed splittable contribution
:
(a)
an amount that has been rolled over, transferred or allotted;
(b)
a lump sum payment from an eligible non-resident non-complying superannuation fund.
6.41(3)
[Contributions that are untaxed splittable contributions]
Subject to subregulation (4), an
untaxed splittable contribution
:
(a)
is a contribution made by a fund member or by another person to a regulated superannuation fund; but
(b)
does not include a contribution of that kind that:
(i)
is made after 5 April 2007; and
(ii)
will not be included in the assessable income of an entity as:
(A)
a taxable contribution for section
274
of the Tax Act; or
(B)
a contribution under Subdivision
295-C
of the 1997 Tax Act.
History
Reg 6.41(3) substituted by SLI No 74 of 2007, reg 4 and Sch 2 item 1, effective 5 April 2007. Reg 6.41(3) formerly read:
6.41(3)
Subject to subregulation (4), an
untaxed splittable contribution
is a contribution made by a fund member or by another person to a regulated superannuation fund where that contribution is not a taxable contribution under section
274
of the
Income Tax Assessment Act 1936
.
6.41(4)
[Contributions that are not untaxed splittable contributions]
Each of the following is not an
untaxed splittable contribution
:
(a)
a payment made to a superannuation fund by an employer, or by another person under an agreement to which the employer is a party, for the purpose of providing superannuation benefits for, or for dependants of, an employee of the employer;
(b)
a roll-over superannuation benefit within the meaning of Division
306
of the 1997 Tax Act;
(c)
an amount allotted under this Division;
(d)
superannuation lump sum that is paid from a foreign superannuation fund.
History
Reg 6.41(4) substituted by SLI No 74 of 2007, reg 5 and Sch 3 item 74, effective 1 July 2007. Reg 6.41(4) formerly read:
6.41(4)
Each of the following is not an
untaxed splittable contribution
:
(a)
a payment made to a superannuation fund by an employer, or by another person under an agreement to which the employer is a party, for the purpose of providing superannuation benefits for, or for dependants of, an employee of the employer;
(b)
an amount that has been rolled over, transferred or allotted;
(c)
a lump sum payment from an eligible non-resident non-complying superannuation fund.
6.41(5)
[
"
untaxed splittable employer contribution
"
]
Subject to subregulation (6), an untaxed splittable employer contribution:
(a)
is a contribution made by the Commonwealth, a State or a Territory to a public sector superannuation scheme; but
(b)
does not include a contribution of that kind that will be included in the assessable income of an entity as:
(i)
a taxable contribution for section
274
of the Tax Act; or
(ii)
a contribution under Subdivision
295-C
of the 1997 Tax Act.
History
Reg 6.41(5)(b) amended by SLI No 204 of 2007, reg 3 and Sch 1 item 10, by substituting
"
be included
"
for
"
not be included
"
in para (b), effective 1 July 2007.
Reg 6.41(5) substituted by SLI No 74 of 2007, reg 5 and Sch 3 item 74, effective 1 July 2007. Reg 6.41(5) formerly read:
6.41(5)
Subject to subregulation (6), an
untaxed splittable employer contribution
is a contribution by the Commonwealth, a State or a Territory to a public sector superannuation scheme that is not a taxable contribution for section
274
of the
Income Tax Assessment Act 1936
.
Reg 6.41(5) inserted by SLI No 189 of 2006, reg 3 and Sch 1 item 6, effective 18 July 2006.
6.41(6)
[
Contributions that are not untaxed splittable employer contributions]
Each of the following is not an untaxed splittable employer contribution:
(a)
a roll-over superannuation benefit within the meaning of Division
306
of the 1997 Tax Act;
(b)
an amount allotted under this Division;
(c)
a superannuation lump sum that is paid from a foreign superannuation fund.
History
Reg 6.41(6) substituted by SLI No 74 of 2007, reg 5 and Sch 3 item 74, effective 1 July 2007. Reg 6.41(6) formerly read:
6.41(6)
Each of the following is not an untaxed splittable employer contribution:
(a)
an amount that has been rolled over, transferred or allotted;
(b)
a lump sum payment from an eligible non-resident non-complying superannuation fund.
Reg 6.41(6) inserted by SLI No 189 of 2006, reg 3 and Sch 1 item 6, effective 18 July 2006.
History
Reg 6.41 inserted by SLI No 334 of 2005, reg 3 and Sch 2 item 10, effective 1 January 2006.
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