Income Tax Assessment (1997 Act) Regulations 2021
Note:
A number of expressions used in this instrument are defined in the Act, including the following:
In this instrument:
2013 allowances determination
has the meaning given by subsection
51-5.01(3)
.
(a) for the purposes of Schedule 1A - has the meaning given by clause 1.1 of that Schedule; and
(b) for the purposes of Subdivision 293-D and Schedule 1AA - has the meaning given by subsection 293-115.05(2) .
Act
means the
Income Tax Assessment Act 1997
.
activities of daily living
has the meaning given by subsection
295-465.01(5)
.
approved stock exchange
: see section
995-1.02
.
assessable contribution
means an amount included in the assessable income of an entity by Subdivision
295-C
of the Act, disregarding item 5.3 of the table in section
50-25
of the Act (income tax exemption for constitutionally protected funds) and Subdivision
295-D
of the Act (about excluded contributions).
(a) for the purposes of Subdivision 291-C and Schedule 1A - has the meaning given by clause 1.2 of that Schedule; and
(b) for the purposes of Schedule 1AA - has the meaning given by clause 2 of that Schedule.
bundled
has the meaning given by subsection
295-465.01(5)
.
cognitive loss
has the meaning given by subsection
295-465.01(5)
.
conditions determination
has the meaning given by subsection
51-5.01(3)
.
constitutionally protected fund
: see section
995-1.03
.
death (life) cover
has the meaning given by subsection
295-465.01(5)
.
(a) for the purposes of Schedule 1A - has the meaning given by clause 1.3 of that Schedule; and
(b) for the purposes of Schedule 1AA - has the meaning given by clause 2A of that Schedule.
(a) means a member of a superannuation fund whose entitlements to superannuation benefits (other than benefits payable on death or disability) are defined by reference to one or more of the following matters:
(i) the member ' s salary, or allowance in the nature of salary, at a particular date or averaged over a period;
(ii) another individual ' s salary, or allowance in the nature of salary, at a particular date or averaged over a period;
(iii) a specified amount;
other than a member of a superannuation fund whose entitlements to superannuation are defined solely by reference to one or more of the following matters:
(iv) specified conversion factors;
(v) the member ' s disability superannuation benefits;
(vi) the member ' s superannuation death benefits;
(vii) payments of amounts mentioned in paragraph 307-10(a) of the Act (which relates to temporary disability payments); and
(b) in clause 3.6 of Schedule 1A - has a meaning affected by subclause (4) of that clause; and
(c) in clause 15 of Schedule 1AA - has a meaning affected by subclause (4) of that clause.
domestic (home) duties
has the meaning given by subsection
295-465.01(5)
.
employer-sponsor
has the meaning given by subsection
16(1)
of the SIS Act.
funded benefit interest
has the meaning given by subsection
293-115.15(2)
.
Governor-General Pension Scheme
means the Governor-General Pension Scheme constituted by allowances payable under section 4 of the
Governor-General Act 1974
.
insolvent
, for an issuer, means:
(a) the issuer cannot pay its debts as they fall due; or
(b) the issuer ' s liabilities exceed its assets.
loss of limb
has the meaning given by subsection
295-465.01(5)
.
member contributions
has the meaning given by subregulation
5.01(1)
of the SIS Regulations.
military or police person
means a person mentioned in paragraph
302-195(2)(a)
, (b) or (c) of the Act.
Military Superannuation and Benefits Scheme
has the meaning given by section
307-125.01
.
(a) for the purposes of section 291-170.04 and Schedule 1A - has the meaning given by subsection 291-170.04(5) ; and
(b) for the purposes of Subdivision 293-D - has the meaning given by subsection 293-115.05(2) .
normal domestic duties
has the meaning given by subsection
295-465.01(5)
.
on-hold member
has the meaning given by subsection
291-170.04(6)
.
pensioned member
has the meaning given by subsection
291-170.04(7)
.
pooled investment annuity
has the meaning given by subsection
307-205.02E(2)
.
pooled investment pension
has the meaning given by subsection
307-205.02D(2)
.
registered organisation
has the meaning given by subsection
10(1)
of the SIS Act.
relevant 2006 interest
, in relation to a member, means:
(a) a defined benefit interest held by the member on 5 September 2006; or
(b) any superannuation interest to which the entire value of the interest mentioned in paragraph (a) was transferred (whether directly or through a series of transfers between superannuation interests).
relevant 2009 interest
, in relation to a member, means:
(a) a defined benefit interest held by the member on 12 May 2009; or
(b) any superannuation interest to which the entire value of the interest mentioned in paragraph (a) was transferred (whether directly or through a series of transfers between superannuation interests).
RSA Act
means the
Retirement Savings Accounts Act 1997
.
RSA Regulations
means the
Retirement Savings Accounts Regulations 1997
.
RSE licensee
has the same meaning as in the SIS Act.
SIS Act
means the
Superannuation Industry (Supervision) Act 1993
.
SIS Regulations
means the
Superannuation Industry (Supervision) Regulations 1994
.
superannuation annuity
: see section
995-1.05
.
superannuation income stream
: see section
307-70.02
.
superannuation salary
means the salary used to determine a person
'
s entitlement to superannuation benefits.
superannuation sub-fund
, in relation to defined benefit members of a superannuation fund, means an arrangement in the fund which satisfies the following conditions:
(a) there are separately identifiable assets and separately identifiable beneficiaries;
(b) the interest of each beneficiary is determined by reference only to the conditions governing that arrangement;
(c) the defined benefit members have the same employer-sponsor;
(d) the employer-sponsor deals with each of the defined benefit members at arm ' s length.
terminal medical condition
: see section
995-1.06
.
TPD any occupation
has the meaning given by subsection
295-465.01(5)
.
TPD own occupation
has the meaning given by subsection
295-465.01(5)
.
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