Tax and Superannuation Laws Amendment (2016 Measures No. 1) Regulation 2016 (FL2016L00518)

Schedule 2   Amounts affected by earnout rights

Superannuation Industry (Supervision) Regulations 1994

2   After subregulation 7.04(6)


(6A) Despite subregulation (1), the regulated superannuation fund may accept, as a contribution, an amount to the extent that the amount does not exceed the member's CGT cap amount if:

(a) were the amount to be accepted as a contribution, it could be covered under section 292-100 (certain CGT-related payments) of the Income Tax Assessment Act 1997 in relation to a CGT event referred to in that section; and

(b) the capital proceeds from the CGT event were or could have been affected by one or more financial benefits received under a look-through earnout right; and

(c) that subregulation would not have prevented the fund from accepting the amount as a contribution had it been made to the fund in the financial year in which the CGT event happened.

Note: The CGT event is the one referred to in whichever of subsections 292-100(2), (4), (7) and (8) of that Act that could cause the amount to be covered under that subsection.