Income Tax Assessment (1997 Act) Regulations 2021

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 307 - Key concepts relating to superannuation benefits  

Subdivision 307-D - Superannuation interests  

SECTION 307-230A.01   TOTAL SUPERANNUATION BALANCE VALUE - DEFINED BENEFIT INTERESTS NOT IN RETIREMENT PHASE  

307-230A.01(1)    
Subsection (2) applies in relation to a defined benefit interest at a particular time if, at that time:

(a)    the interest is not in the retirement phase; and

(b)    the interest has a family law value; and

(c)    subsection (4) of this section does not apply to the interest.

307-230A.01(2)    
For the purposes of paragraph 307-230A(1)(a) of the Act:

(a)    if there is no alternative valuation method for the interest - the family law value is specified; or

(b)    if there is an alternative valuation method for the interest - the alternative valuation method is specified.

Certain lump sum-only interests

307-230A.01(3)    
Subsection (4) applies in relation to a defined benefit interest at a particular time if, at that time:

(a)    the interest is not in the retirement phase; and

(b)    section 307-230A.08 applies to the interest.

307-230A.01(4)    
For the purposes of paragraph 307-230A(1)(a) of the Act:

(a)    if there is no alternative valuation method for the interest - the vested benefits total of the interest is specified; or

(b)    if there is an alternative valuation method for the interest - the alternative valuation method is specified.

Note:

For the total superannuation balance value of a superannuation interest that is not a superannuation interest to which this section or section 307-230A.02 of this instrument relates, see paragraph 307-230A(1)(b) of the Act.