Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 307 - Key concepts relating to superannuation benefits  

Subdivision 307-E - Elements taxed and untaxed in the fund of the taxable component of superannuation benefit  

SECTION 307-280   Superannuation benefits from constitutionally protected funds etc.  

307-280(1)    
The *taxable component of a *superannuation benefit paid from a *superannuation fund that is a *constitutionally protected fund consists wholly of an element untaxed in the fund .

307-280(2)    
Despite subsection (1), if:

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

(b) the benefit is attributable to one or more *roll-over superannuation benefits that consisted of, or included, an *element taxed in the fund;

the *taxable component of the benefit has an element taxed in the fund equal to the total of those elements taxed in the fund.

307-280(3)    
The *taxable component of a *superannuation income stream benefit consists wholly of an element untaxed in the fund if it is paid from a *superannuation fund that was a *constitutionally protected fund on the first day of the period to which the *superannuation income stream relates.