Income Tax Assessment (1997 Act) Regulations 2021
This section sets out how to calculate the assets available to fund pre-1 July 88 liabilities for step 2 of method 1 in section 295-265.02 .
295-265.04(2)
In making the calculation in step 2 of method 1, allow deductions for realisation costs and charges incurred in the normal course of operation of the superannuation fund.
295-265.04(3)
Deduct the amount of assets that relate to excluded liabilities mentioned in subsection 295-265.03(3) .
295-265.04(4)
All remaining assets should be treated as available to fund pre-1 July 88 liabilities unless the superannuation provider can provide the superannuation provider ' s actuary with written evidence to support exclusion of both an amount of assets and a corresponding value of liabilities.
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