Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 306 - Roll-overs etc.  

Operative provisions  

SECTION 306-12   306-12   Involuntary roll-over superannuation benefit  


A *roll-over superannuation benefit is an involuntary roll-over superannuation benefit if it is:


(a) a payment transferring a *superannuation interest of:


(i) a member of a *superannuation fund; or

(ii) a depositor with an *approved deposit fund; or

(iii) a holder of an *RSA;
to a *successor fund (other than a *self managed superannuation fund) without the consent of the member, depositor or holder; or


(b) a payment transferring an *accrued default amount of a member (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) of a *complying superannuation fund to another complying superannuation fund:


(i) as a result of an election under paragraph 29SAA(1)(b) of that Act; or

(ii) under section 388 of that Act;
if:

(iii) that member becomes a member (within the meaning of that Act) of the other fund immediately after the transfer; and

(iv) the transfer happens during the period beginning on 1 July 2015 and ending on 1 July 2017; or


(c) a payment of consideration for the issue to a person of a beneficial interest in an eligible rollover fund (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) in accordance with an application on behalf of that person under section 243 of that Act.


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