Income Tax Assessment (1997 Act) Regulations 2021

CHAPTER 7 - TRANSITIONAL MATTERS  

PART 1000-8 - TRANSITIONAL MATTERS RELATING TO THE INCOME TAX ASSESSMENT (1997 ACT) AMENDMENT (BUILDING A STRONGER AND FAIRER SUPER SYSTEM AND OTHER MEASURES) REGULATIONS 2026  

SECTION 1000-8.04  

1000-8.04   TRANSITIONAL PROVISION - VESTED BENEFITS TOTAL  

For the purposes of working out whether section 307-230A.08 , as inserted by Part 2 of Schedule 2 to the Income Tax Assessment (1997 Act) Amendment (Building a Stronger and Fairer Super System and Other Measures) Regulations 2026 , applies to a superannuation interest at a particular time (the application time ) that does not occur just before 1 July 2028 and does not occur on or after 1 July 2028:

(a)    disregard the reference in subparagraph 307-230A.08(1)(b)(i) to that section having applied 12 months before the application time; and

(b)    treat the reference in that subparagraph to the vested benefits total of the interest as being a reference to the value of the interest.