Income Tax Assessment (1997 Act) Regulations 2021
For the purposes of section 295-385 of the Act, the following superannuation income stream benefits are prescribed: (a) an RP superannuation income stream benefit of a superannuation fund payable from:
(i) an allocated pension within the meaning of the SIS Regulations; or
(ii) a market linked pension within the meaning of the SIS Regulations; or
(b) a superannuation benefit payable, from a superannuation interest, in respect of a right mentioned in subsection 307-70.02(2) that is covered by subsection 307-70.02(3) , if, immediately before the death mentioned in paragraph 307-70.02(2)(a) , the superannuation interest supported a pension mentioned in subparagraph (a)(i) , (ii) or (iii) of this section payable to the deceased mentioned in paragraph 307-70.02(2)(a) ; (c) a superannuation benefit payable from a superannuation interest that supports a new superannuation income stream in relation to which subsection 307-70.02(4) applies (as affected by subsection 307-70.02(5) ), if the superannuation income stream payable to the deceased mentioned in paragraph 307-70.02(4)(a) was a pension mentioned in subparagraph (a)(i) , (ii) or (iii) of this section.
(iii) an account-based pension within the meaning of the SIS Regulations;
Note 1:
Certain assets that enable a superannuation fund to discharge liabilities in respect of superannuation income stream benefits that are RP superannuation income stream benefits and are prescribed under this section are segregated current pension assets of the fund (see subsection 295-385(4) of the Act).
Note 2:
Section 307-205.02 does not apply to a superannuation income stream mentioned in paragraph (a) of this section (see paragraph 307-205.02(2)(a) ).
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