Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 305 - Superannuation benefits paid from non-complying superannuation plans  

Subdivision 305-A - Superannuation benefits from Australian non-complying superannuation funds  

SECTION 305-5  

305-5   Tax treatment of superannuation benefits from certain Australian non-complying superannuation funds  

A *superannuation benefit that you receive from a *non-complying superannuation fund that is an *Australian superannuation fund (for the income year in which the benefit is paid) is *exempt income if:

(a) the fund:

(i) has never been a *complying superannuation fund; or

(ii) last stopped being a complying superannuation fund for the income year in which 1 July 1995 occurred or a later income year; and

(b) the fund:

(i) has never been a *foreign superannuation fund; or

(ii) last stopped being a foreign superannuation fund for the income year in which 1 July 1995 occurred or a later income year.