Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 294-130 Meaning of capped defined benefit income stream 294-130(1)
A *superannuation income stream is a capped defined benefit income stream if it is:
(a) covered by an item of the following table; and
(b) if it is covered by any of items 2 to 7 of that table - it is in the *retirement phase just before 1 July 2017.
| Capped defined benefit income streams | ||
| Item | Topic | A superannuation income stream is covered if: |
| 1 | Lifetime pension | it is a pension for the purposes of the Superannuation Industry (Supervision) Act 1993 (the SIS Act ) that is provided under rules that meet the standards of subregulation 1.06(2) of the Superannuation Industry (Supervision) Regulations 1994 (the SIS Regulations ) |
| 2 | Lifetime annuity | it is an annuity for the purposes of the SIS Act that is provided under a contract that meets the standards of subregulation 1.05(2) of the SIS Regulations |
| 3 | Life expectancy pension | it is a pension for the purposes of the SIS Act that is provided under rules that meet the standards of subregulation 1.06(7) of the SIS Regulations |
| 4 | Life expectancy annuity | it is an annuity for the purposes of the SIS Act that is provided under a contract that meets the standards of subregulation 1.05(9) of the SIS Regulations |
| 5 | Market linked pension | it is a pension for the purposes of the SIS Act that is provided under rules that meet the standards of subregulation 1.06(8) of the SIS Regulations |
| 6 | Market linked annuity | it is an annuity for the purposes of the SIS Act that is provided under a contract that meets the standards of subregulation 1.05(10) of the SIS Regulations |
| 7 | Market linked pension (RSA) | it is a pension for the purposes of the Retirement Savings Accounts Act 1997 that is provided under terms and conditions that meet the standards of subregulation 1.07(3A) of the Retirement Savings Accounts Regulations 1997 |
294-130(2)
A *superannuation income stream is also a capped defined benefit income stream if the income stream is prescribed by the regulations for the purposes of this subsection.
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