INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 295 - Taxation of superannuation entities  

Subdivision 295-H - Components of taxable income  

SECTION 295-545   Components of taxable income - complying superannuation funds, complying ADFs and PSTs  

295-545(1)  
The taxable income of these entities is split into a *non-arm's length component and a *low tax component:


(a) *complying superannuation funds;


(b) *complying approved deposit funds;


(c) *pooled superannuation trusts.

Note:

A concessional rate applies to the low tax component, while the non-arm's length component is taxed at the highest marginal rate. The rates are set out in the Income Tax Rates Act 1986 .

295-545(2)  
The non-arm's length component for an income year is the entity's *non-arm's length income for that year less any deductions to the extent that they are attributable to that income.

295-545(3)  
The low tax component is any remaining part of the entity's taxable income for the income year.


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