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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 307.230

Total superannuation balance--modification for transfer balance just before 1 July 2017

             (1)  This section applies for the purposes of working out the amount of your total superannuation balance just before 1 July 2017.

             (2)  The transfer balance mentioned in paragraph 307-230(1)(b) of the Income Tax Assessment Act 1997 just before 1 July 2017 is taken to be equal to:

                     (a)  the sum of the transfer balance credits (if any) in your transfer balance account just after the start of 1 July 2017; less

                     (b)  the sum of the transfer balance debits (if any) arising in your transfer balance account on 1 July 2017 under item 4 of the table in subsection 294-80(1) of that Act (about payment splits).



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