Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 296 - Better targeted superannuation concessions  

Subdivision 296-B - Better targeted superannuation concessions  

Taxable superannuation earnings and related concepts

SECTION 296-70   Your relevant superannuation earnings for a superannuation interest - certain defined benefit and other interests  

296-70(1)    
Your relevant superannuation earnings for an income year for a * superannuation interest mentioned in subsection 296-65(2) is the amount worked out using the following formula:

where:

prescribed factor
is the value prescribed by the regulations for the purposes of this definition.

your contributions total
is the amount (which may be a nil amount) determined in accordance with regulations made for the purposes of this definition.

your withdrawals total
is the amount (which may be a nil amount) determined in accordance with regulations made for the purposes of this definition.

296-70(2)    
For the purposes of subsection (1) , if the interest does not exist at the end of the year, or just before the start of the year, the * total superannuation balance value of the interest at that time is taken to be nil.