Income Tax Assessment Regulations 1997 (Repealed)

PART 3 - SUPERANNUATION BENEFITS PAID FROM COMPLYING PLANS ETC  

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History

Part 3 heading inserted by SLI No 103 of 2007, reg 3 and Sch 1 item 3, applicable in relation to a financial year that starts on or after 1 July 2007.

Division 301 - Superannuation member benefits paid from complying plans etc  

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Div 301 inserted by SLI No 90 of 2007, reg 5 and Sch 3 item 3, effective 1 July 2007.

Subdivision 301-E - Superannuation lump sum member benefits less than $200  

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Subdiv 301-E inserted by SLI No 90 of 2007, reg 5 and Sch 3 item 3, effective 1 July 2007.

REGULATION 301-225.01   SUPERANNUATION LUMP SUM MEMBER BENEFITS LESS THAN $200 ARE TAX FREE  

301-225.01(1)    
For paragraph 301-225(d) of the Act, this regulation sets out requirements in relation to a superannuation member benefit.

Note:

The effect of section 301-225 of the Act is that a superannuation member benefit is not assessable income and is not exempt income in specified circumstances. One of the circumstances is that the requirements (if any) specified in the Regulations in relation to the benefit are satisfied.

301-225.01(2)    
A requirement is that the member ' s benefit must be released under:

(a) item 104 or 111 of Part 1 of Schedule 1 to the SIS Regulations; or

(b) item 211 of Part 2 of Schedule 1 to the SIS Regulations; or

(c) item 111 of Schedule 2 to the RSA Regulations.

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Reg 301-225.01(2) substituted by SLI No 103 of 2007, reg 3 and Sch 1 item 4, applicable in relation to a financial year that starts on or after 1 July 2007. Reg 301-225.01(2) formerly read:

301-225.01(2)
A requirement is that the member ' s benefit must be released under:

(a) item 104 or 109B of Part 1 of Schedule 1 to the SIS Regulations; or

(b) item 211 of Part 2 of Schedule 1 to the SIS Regulations.

Reg 301-225.01 inserted by SLI No 90 of 2007, reg 5 and Sch 3 item 3, effective 1 July 2007.

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