Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A * complying superannuation fund can deduct an amount under this section for an income year if:
(a) the trustee of the fund makes a choice under subsection 295 - 465(4) and the choice applies to the income year; and
(b) the trustee pays:
(i) a benefit referred to in paragraph 295 - 460(a), (aa) or (b) for the income year in consequence of the termination of a member's employment; or
(ii) a benefit referred to in paragraph 295 - 460(c).
(2) The amount the fund can deduct is:
where:
"benefit amount" is:
(a) for a benefit that is a * superannuation lump sum--the amount of the lump sum; or
(b) for a benefit that is a * superannuation income stream--the * value of the * superannuation interest supporting the income stream; or
(c) for a benefit referred to in paragraph 295 - 460(c)--the total of the amounts paid during the income year.
"future service days" is the number of days in the period starting when:
(a) the termination happened; or
(b) for a benefit referred to in paragraph 295 - 460(c)--the member became unable to engage in * gainful employment;
and ending on the member's * last retirement day.
"total service days" is the sum of future service days and the number of days in:
(a) for a benefit that is a * superannuation lump sum--the * service period for the superannuation lump sum; or
(b) for another benefit--the period ending on the first day of the period to which the first payment of the benefit relates and starting on the earliest of:
(i) the day on which the member joined the relevant * superannuation fund; and
(ii) the first day of the period of employment to which the benefit relates (including a qualifying period before the member could join the fund and any period when the member was not a member of the fund); and
(iii) the day applicable under subsection (3).
(3) The applicable day is the first day of the * service period for a * superannuation lump sum that is a * roll - over superannuation benefit if all or part of the * value of the other benefit is attributable to the roll - over superannuation benefit.