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 307 - Key concepts relating to superannuation benefits  

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Div 307 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.

Subdivision 307-D - Superannuation interests  

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Subdiv 307-D inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.

SECTION 307-205   Value of superannuation interest  

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307-205(1)    

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The value of a *superannuation interest at a particular time is:

(a) if the regulations specify a method for determining the value of the superannuation interest - that value; or

(b) otherwise - the total amount of all the *superannuation lump sums that could be payable from the interest at that time.

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S 307-205 amended by No 81 of 2016, s 3 and Sch 11 item 2, by inserting " (1) " before " The value " , effective 1 January 2017 and applicable in a provision of an Act, regulation or instrument in the same way as that provision applies.

307-205(2)    

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The accumulation phase value of an individual ' s *superannuation interest, at a particular time when the interest is not in the *retirement phase, is:

(a) if the regulations specify that value or a method for determining that value - that value; or

(b) otherwise - the total amount of the *superannuation benefits that would become payable if the individual voluntarily caused the interest to cease at that time.

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S 307-205(2) inserted by No 81 of 2016, s 3 and Sch 11 item 3, effective 1 January 2017 and applicable in a provision of an Act, regulation or instrument in the same way as that provision applies.

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History

S 307-205 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.

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