Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

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History

Part 3-30 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 income year and later years.

Division 294 - Transfer balance cap  

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History

Div 294 inserted by No 81 of 2016, s 3 and Sch 1 item 4, effective 1 January 2017. For application provision, see Subdiv 294-A of Income Tax (Transitional Provisions) Act 1997 .

Subdivision 294-D - Modifications for certain defined benefit income streams  

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History

Subdiv 294-D inserted by No 81 of 2016, s 3 and Sch 1 item 4, effective 1 January 2017. For application provision, see Subdiv 294-A of Income Tax (Transitional Provisions) Act 1997 .

Guide to Subdivision 294-D

SECTION 294-120   What this Subdivision is about  

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Certain defined benefit lifetime pensions that are subject to commutation restrictions cannot result in excess transfer balance (instead, Subdivision 303-A applies to the superannuation income stream benefits).

Certain commutation-restricted income streams started before 1 July 2017 are covered by the same modification.

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History

S 294-120 inserted by No 81 of 2016, s 3 and Sch 1 item 4, effective 1 January 2017. For application provision, see Subdiv 294-A of Income Tax (Transitional Provisions) Act 1997 .

TABLE OF SECTIONS

TABLE OF SECTIONS

Operative provisions
294-125	When this Subdivision applies
294-130	Meaning of capped defined benefit income stream
294-135	Transfer balance credit - special rule for capped defined benefit income streams
294-140	Excess transfer balance - special rule for capped defined benefit income streams
294-145	Transfer balance debits - special rules for capped defined benefit income streams

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