Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 307.280

Superannuation benefits from constitutionally protected funds etc.

             (1)  The * taxable component of a * superannuation benefit paid from a * superannuation fund that is a * constitutionally protected fund consists wholly of an element untaxed in the fund .

             (2)  Despite subsection (1), if:

                     (a)  the benefit is a * superannuation lump sum; and

                     (b)  the benefit is attributable to one or more * roll-over superannuation benefits that consisted of, or included, an * element taxed in the fund;

the * taxable component of the benefit has an element taxed in the fund equal to the total of those elements taxed in the fund.

             (3)  The * taxable component of a * superannuation income stream benefit consists wholly of an element untaxed in the fund if it is paid from a * superannuation fund that was a * constitutionally protected fund on the first day of the period to which the * superannuation income stream relates.



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