Australian Tax Treaties
With reference to paragraph 3 of Article 17 :
It is understood that " a retirement benefit scheme " means an arrangement in which the individual participates in order to secure retirement benefits. It is also understood that in the case of lump sums arising in Australia:
(a) a retirement benefit scheme includes:
(i) a " retirement savings account " as defined in the Retirement Savings Accounts Act 1997 ;
(ii) a " complying superannuation life insurance policy " as defined in the Income Tax Assessment Act 1997 ; and
(iii) an " exempt life insurance policy " as defined in the Income Tax Assessment Act 1997 , other than a policy referred to in subparagraphs (e)(i) or (iii) of subsection 320-246(1) of that Act; and
(b) a payment by the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 shall be treated as a lump sum paid under a retirement benefit scheme.
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