Retirement Savings Accounts Amendment Regulations 2007 (No. 1) (104 of 2007)
Schedule 3 Amendments commencing on 1 July 2007
[18] Subregulation 4.01 (2), after definition of transitional period
insert
transition to retirement pension means a pension provided from an RSA, the terms and conditions of which:
(a) meet the standards of subregulation 1.07 (3D); and
(b) allow total payments (including under a payment split) made in a financial year to amount to no more than 10% of the pension account balance:
(i) on 1 July in the financial year in which the payment is made; or
(ii) if that year is the year in which the pension commences - on the commencement day; and
(c) comply with paragraph (b) of the definition of non-commutable allocated pension as if it were such a pension.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).