Income Tax Assessment (1997 Act) Regulations 2021
View history note
Hide history noteThis section applies for the purposes of the continuing application of the old regulations in relation to a superannuation income stream that: (a) commenced before the 2021 commencement time; and (b) is supported by a superannuation interest covered by subsection 294-135.01(6) of this instrument.
1000-6.03(2)
This section applies despite subsection 1000-1.06(1) .
1000-6.03(3)
For the purposes mentioned in subsection (1) , treat the special value of the superannuation interest at a time (the relevant time ) that is before the 2021 commencement time as being the special value of the superannuation interest at the relevant time worked out under section 294-135.01 , as amended by the amending instrument.
1000-6.03(4)
To avoid doubt, for the purposes of subsection (3) , assume that section 294-135.01 , as amended by the amending instrument: (a) applies in relation to a transfer balance credit that arises before the 2021 commencement time (despite subsection 1000-1.06(6) ); and (b) applies in relation to working out the special value, at a particular time, of a superannuation interest even if the particular time is before the 2021 commencement time (despite section 1000-6.02 ).
1000-6.03(5)
For the purposes mentioned in subsection (1) , if the superannuation income stream mentioned in that subsection ceased before the 2021 commencement time, treat section 294-80.02B of this instrument as applying in relation to that cessation.
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