Income Tax Assessment (1997 Act) Regulations 2021
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-30
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SUPERANNUATION
Division 301
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Superannuation member benefits paid from complying plans etc.
Subdivision 301-E
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Superannuation lump sum member benefits less than $200
SECTION 301-225.01
SUPERANNUATION LUMP SUM MEMBER BENEFITS LESS THAN $200 ARE TAX FREE
301-225.01(1)
For the purposes of paragraph 301-225(1)(d) of the Act, this section specifies requirements in relation to a superannuation member benefit.
301-225.01(2)
A requirement is that the member ' s benefit must be released under: (a) item 104 or 111 of Part 1 of Schedule 1 to the SIS Regulations; or (b) item 211 of Part 2 of Schedule 1 to the SIS Regulations; or (c) item 111 of Schedule 2 to the RSA Regulations.
For the purposes of paragraph 301-225(1)(d) of the Act, this section specifies requirements in relation to a superannuation member benefit.
Note:
The effect of section 301-225 of the Act is that a superannuation member benefit is not assessable income and is not exempt income in certain circumstances (which include satisfying the requirements in subsection (2) of this section).
301-225.01(2)
A requirement is that the member ' s benefit must be released under: (a) item 104 or 111 of Part 1 of Schedule 1 to the SIS Regulations; or (b) item 211 of Part 2 of Schedule 1 to the SIS Regulations; or (c) item 111 of Schedule 2 to the RSA Regulations.
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