Income Tax Assessment Act 1997
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Hide history noteSECTION 294-195 Cap increment - child recipient on or after 1 July 2017, deceased had no transfer balance account 294-195(1)
A cap increment arises if:
(a) on a day (the starting day ) on or after 1 July 2017, you start to be the *child recipient of a *superannuation income stream; and
(b) the deceased did not have a *transfer balance account just before death.
294-195(2)
The amount of the cap increment is:
(a) the *general transfer balance cap, unless paragraph (b) applies; or
(b) if you are not the only person to receive a *superannuation death benefit because of the death of the person - the proportion of the general transfer balance cap that corresponds to your share of the deceased ' s *superannuation interests.
294-195(3)
The cap increment arises on the starting day.
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