Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 294-180 Transfer balance account ends 294-180(1)
Despite sections 294-15 and 294-45 , your *transfer balance account ceases at a time if:
(a) just before that time, you were a *child recipient of one or more *superannuation income streams; and
(b) just after that time, you are no longer a child recipient of any superannuation income stream; and
(c) no *transfer balance credits arose in the transfer balance account in respect of a superannuation income stream of which you were a *retirement phase recipient, but not a child recipient.
294-180(2)
If you again start to have a *transfer balance account at a later time, this Division applies in relation to that later transfer balance account as if it were the only transfer balance account you have had.
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