Income Tax Assessment Act 1997
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Hide history noteA *superannuation lump sum is a departing Australia superannuation payment if it: (a) is paid to a person who has departed Australia; and (b) is paid:
(i) in accordance with regulations under the Superannuation Industry (Supervision) Act 1993 or the Retirement Savings Accounts Act 1997 that are specified in regulations made for the purposes of this definition; or
(ii) in accordance with section 67A of the Small Superannuation Accounts Act 1995 ; or
(iii) by an exempt public sector superannuation scheme (within the meaning of section 10 of the Superannuation Industry (Supervision) Act 1993 ) and is made in accordance with rules of the fund that are substantially similar to the regulations specified as mentioned in subparagraph (i) .
301-170(2)
Also, a *superannuation lump sum is a departing Australia superannuation payment if it is paid under subsection 20H(2) , (2AA) , (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 .
301-170(3)
Despite subsection (2) , a *superannuation lump sum paid under subsection 20H(2) , (2AA) , (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 because a person has been identified in a notice under section 20C of that Act is not a departing Australia superannuation payment if, when it is paid, the Commissioner is satisfied that: (a) the person has not been, under the Migration Act 1958 , the holder of a temporary visa that ceased to be in effect at least 6 months ago; or (b) the person has been the holder of such a visa but has not left Australia (within the meaning of that Act) at least 6 months ago but after starting to be the holder of the visa.
301-170(4)
Despite subsection (2) , a *superannuation lump sum that is paid under subsection 20H(2) , (2AA) , (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 and is prescribed by the regulations for the purposes of this subsection is not a departing Australia superannuation payment .
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