Treasury Laws Amendment (Building a Stronger and Fairer Super System) Act 2026 (8 of 2026)

Schedule 2   Definition of total superannuation balance

Income Tax Assessment Act 1997

5   Subsections 307-230(2) to (4)

Repeal the subsections, substitute:

Modification for structured settlement contributions

(2) 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.

Family law splits

(3) 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.

(4) 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.

Note: Regulations made for the purposes of paragraph 307-230A(1)(a) may specify the total superannuation balance value of the interest.

(5) The provisions are the following:

(a) subsection (1) of this section;

(b) section 307-230A;

(c) the *Division 296 tax law.