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 302 - Superannuation death benefits paid from complying plans etc.  

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Div 302 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.

Subdivision 302-B - Death benefits to dependant  

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Subdiv 302-B inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.

Death benefits to dependant - elements untaxed in fund

SECTION 302-80  

302-80   Treatment of element untaxed in the fund of superannuation income stream death benefit to dependant  

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If a *superannuation income stream benefit that you receive because of the death of a person of whom you are a *death benefits dependant includes an *element untaxed in the fund:

(a) the *tax free component (if any) of the benefit is treated in the same way as the tax free component of a superannuation income stream benefit under section 302-65 or 302-70 ; and

(b) the *element taxed in the fund (if any) of the benefit is treated in the same way as the *taxable component of a superannuation income stream benefit under section 302-65 or 302-75 ; and

(c) the element untaxed in the fund is treated in accordance with section 302-85 or 302-90 .

Note:

If your superannuation income stream benefit is defined benefit income, see Subdivision 303-A .

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History

S 302-80 amended by No 81 of 2016, s 3 and Sch 1 item 30, by inserting the note, effective 1 January 2017 and applicable in relation to the financial year starting on 1 July 2017 and later financial years.

S 302-80 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.

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