Income Tax Assessment (1997 Act) Regulations 2021

CHAPTER 7 - TRANSITIONAL MATTERS  

PART 1000-4 - TRANSITIONAL MATTERS RELATING TO THE TREASURY LAWS AMENDMENT (MILITARY SUPERANNUATION BENEFITS) REGULATIONS 2023  

SECTION 1000-4.03   MODIFIED CONTINUING APPLICATION OF OLD REGULATIONS  

1000-4.03(1)    
This section applies for the purposes of the continuing application of the old regulations, in relation to superannuation income streams that commenced before the 2021 commencement time.

1000-4.03(2)    
This section applies despite subsection 1000-1.06(1) .

1000-4.03(3)    
For the purposes mentioned in subsection (1) , treat a superannuation income stream as being prescribed by the old regulations for the purposes of subsection 294-130(2) of the Act (as a capped defined benefit income stream) if the superannuation income stream:

(a)    would not be so prescribed under that continuing application (apart from this subsection); but

(b)    would be so prescribed under subsection 294-130.01(7) (as inserted by Part 2 of Schedule 1 to the amending instrument), on the assumption that the superannuation income stream commenced on or after the 2021 commencement time.