Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 301 - Superannuation member benefits paid from complying plans etc.  

Subdivision 301-E - Superannuation lump sum member benefits less than $200  

SECTION 301-225   Superannuation lump sum member benefits less than $200 are tax free  

301-225(1)    
Despite anything else in this Division (apart from Subdivision 301-D ), a *superannuation member benefit that you receive is not assessable income and is not *exempt income if:

(a)    the benefit is a *superannuation lump sum; and

(b)    the amount of the benefit is less than $200; and

(c)    the *value of the *superannuation interest from which the benefit is paid is nil just after the benefit is paid; and

(d)    the requirements (if any) specified in the regulations in relation to the benefit are satisfied.

301-225(2)    

Despite anything else in this Division (apart from Subdivision 301-D ), a *superannuation member benefit that you receive is not assessable income and is not *exempt income if:

(a)    the benefit is a *superannuation lump sum; and

(b)    

the benefit is paid to you:

(i) under subsection 20QF(2) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 in a case covered by paragraph (d) of that subsection; or

(ia) under subsection 21E(2) of that Act in a case covered by paragraph (d) of that subsection; or

(ib) under subsection 22B(2) of that Act in a case covered by paragraph (d) of that subsection; or

(ii) under subsection 24G(2) of that Act in a case covered by paragraph (d) of that subsection; and

(c)    the amount of the benefit is less than $200.