Retirement Savings Accounts Regulations (Amendment) 1998 (176 of 1998)

15.   Regulation 4.13 (Unrestricted non-preserved benefits)

15.1 Paragraph 4.13 (1) (d):

After "earnings", insert "for the period before 1 July 1999".

15.2 Add at the end:

" (3) However, if:

(a) on or after 1 July 1999, a deduction is allowed for the RSA holder under section 82AAT of the Income Tax Assessment Act 1936 for an RSA holder contribution made before 1 July 1999; and

(b) the benefits arising from the contribution were previously allocated to restricted non-preserved benefits that became unrestricted non-preserved benefits under subregulation 4.14 (2);

the benefits are taken to be preserved benefits.".