View surrounding sections Previous section | Next section

Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES

PART 3-30 - SUPERANNUATION

View history note

Division 307 - Key concepts relating to superannuation benefits

View history reference

View history note

Subdivision 307-D - Superannuation interests

View history reference

View history note

SECTION 307-230 Total superannuation balance

View history reference

307-230(1)
Your total superannuation balance , at a particular time, is the sum of the following:

(a)

View history reference

the * total superannuation balance value, at that time, of each of the following * superannuation interests (other than an interest in a * superannuation plan that, at that time, is a * foreign superannuation fund):

(i) a superannuation interest of yours;

(ii) a superannuation interest that supports a * superannuation income stream of which you are a * retirement phase recipient because of the death of another person;

(b) (Repealed by No 8 of 2026)

(c)

View history reference

the amount of each * roll-over superannuation benefit:

(i) paid at or before that time; and

(ii) received by the * complying superannuation plan, or the entity from which the * superannuation annuity is being purchased, after that time; and

(iii) not reflected in the value in paragraph (a) ;

(d)

View history reference

if you have an LRBA amount under section 307-231 (about limited recourse borrowing arrangements) in relation to one or more * regulated superannuation funds - the LRBA amounts for each such regulated superannuation fund.

View history note

Modification for structured settlement contributions

307-230(2)

View history reference

However, if a * structured settlement contribution is made at or before a time in respect of you, your total superannuation balance at that time is modified by reducing the sum worked out under subsection (1) by the sum of any such structured settlement contributions.

View history note

Family law splits

307-230(3)

View history reference

For the purposes of the provisions mentioned in subsection (5) , you are treated as having a * superannuation interest in a * superannuation plan if:

(a) you are a * non-member spouse in relation to a superannuation interest that:

(i) is an interest in that superannuation plan; and

(ii) is subject to a * payment split but remains an interest of the * member spouse; and

(b) circumstances prescribed by the regulations for the purposes of this paragraph exist.

View history note

History

S 307-230(3) substituted by No 8 of 2026, s 3 and Sch 2 item 5, effective 1 April 2026 and applicable in relation to working out what your total superannuation balance is, or what the total superannuation balance value of a superannuation interest is, at a particular time if that time occurs: (a) just before 1 July 2026; or (b) on or after 1 July 2026. S 307-230(3) formerly read:

307-230(3)
For the purposes of working out the * transfer balance mentioned in paragraph (1)(b) :
(a) if a * transfer balance credit has arisen, at or before that time, in your * transfer balance account in respect of a * superannuation income stream covered by subsection (4) - disregard the operation of the following provisions in relation to the superannuation income stream:

(i) items 1 and 2 of the table in subsection 294-25(1) ;

(ii) items 1, 3, 4, 5 and 6 of the table in subsection 294-80(1) ; and

(b) if, at that time, you have a * superannuation interest that supports a superannuation income stream covered by subsection (4) of this section - increase the amount of that balance by the total amount of the * superannuation benefits that would become payable if:

(i) you had the right to cause the superannuation interest to cease at that time; and

(ii) you voluntarily caused the superannuation interest to cease at that time.

307-230(4)

View history reference

For the purposes of the provisions mentioned in subsection (5) , the regulations must specify whether the * superannuation interest that you are treated as having is to be treated as being a * defined benefit interest.