TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-20 - SUPERANNUATION  

Division 133 - Division 293 tax  

Subdivision 133-C - Compulsory payment  

End benefit

SECTION 133-130   MEANING OF END BENEFIT  

133-130(1)  
A * superannuation benefit is the end benefit for a * superannuation interest if it is the first superannuation benefit to become payable from the interest, disregarding a benefit that is any of the following:


(a) a * roll-over superannuation benefit paid to a * complying superannuation plan that is a * successor fund;


(b) a benefit that becomes payable under the condition of release specified in item 105 of the table in Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 (about severe financial hardship);


(c) a benefit that becomes payable under the condition of release specified in item 107 of that table (about compassionate ground);


(d) a benefit specified in an instrument under subsection (2).

133-130(2)  
The Minister may, by legislative instrument, specify a * superannuation benefit for the purposes of paragraph (1)(d).

133-130(3)  


Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply in relation to an instrument made under subsection (2).

133-130(4)  


Despite subsection 12(1A) (retrospective commencement of legislative instruments) of the Legislation Act 2003 , an instrument made under subsection (2) of this section must not commence before 1 July 2012.



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