Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.3 - Cashing of benefits  

Subdivision 6.3.1 - Regulated superannuation funds  

REGULATION 6.20C   6.20C   CASHING OF BENEFITS IN A REGULATED SUPERANNUATION FUND - PAYMENT TO COMMISSIONER OF TAXATION  

If the trustee of a regulated superannuation fund is required to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999 for a person ' s superannuation interest in the fund, the amount must be cashed in favour of the Commissioner of Taxation as a lump sum.

Note: An amount to be paid under the Superannuation (Unclaimed Money and Lost Members) Act 1999 must be paid by the time required under that Act.