Income Tax Assessment (1997 Act) Regulations 2021

SCHEDULES

SCHEDULE 1B  

Note: See sections 307-205.01A and 307-205.02 .

VALUATION FACTORS

2   Lump sum valuation factors  

2(1)    
For the purposes of subparagraph 307-205.02(3)(b)(ii) , the applicable factor for the superannuation lump sum is the discount valuation factor mentioned in subclause (3) that applies for the minimum deferral period.

2(2)    
For the purposes of this clause, the minimum deferral period in relation to a lump sum that is to be paid at a time after the date on which the interest in respect of which the lump sum is payable is to be valued is the number of complete years between the day before the date on which the interest is to be valued and the earliest date at which the lump sum can be paid.

2(3)    
The following table sets out the discount valuation factors, in accordance with the following principles:

(a)    the factors in column 2 of the table apply if the lump sum is not indexed;

(b)    the factors in column 3 of the table apply if the lump sum is indexed in accordance with the Consumer Price Index;

(c)    the factors in column 4 of the table apply if the lump sum is indexed in accordance with a general wage index (for example, average weekly earnings, or average weekly ordinary time earnings, published by the Australian Bureau of Statistics);

(d)    if the lump sum is indexed in accordance with a fund crediting rate, the factor is 1.

Discount valuation factors
Item	Column 1 Minimum deferral period	Column 2 Lump sum not indexed	Column 3 CPI indexed lump sum	Column 4 Wage indexed lump sum
1	0	1.000	1.000	1.000
2	1	0.939	0.963	0.977
3	2	0.882	0.927	0.954
4	3	0.829	0.892	0.932
5	4	0.779	0.859	0.910
6	5	0.732	0.827	0.889
7	6	0.689	0.797	0.869
8	7	0.648	0.768	0.849
9	8	0.610	0.740	0.830
10	9	0.575	0.714	0.811
11	10	0.542	0.688	0.793
12	11	0.511	0.664	0.776
13	12	0.483	0.641	0.759
14	13	0.456	0.619	0.742
15	14	0.431	0.598	0.727
16	15	0.409	0.579	0.711
17	16	0.387	0.560	0.697
18	17	0.368	0.542	0.683
19	18	0.350	0.525	0.669
20	19	0.333	0.509	0.656
21	20	0.318	0.494	0.644
22	21	0.304	0.480	0.632
23	22	0.291	0.467	0.621
24	23	0.279	0.454	0.610
25	24	0.269	0.443	0.600
26	25	0.259	0.432	0.590
27	26	0.250	0.422	0.582
28	27	0.243	0.413	0.573
29	28	0.236	0.404	0.565
30	29	0.229	0.397	0.558
31	30	0.224	0.390	0.552