Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 3-20
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SUPERANNUATION
Division 133
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Division 293 tax
Subdivision 133-C
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Compulsory payment
End benefit
SECTION 133-130
MEANING OF
END BENEFIT
133-130(1)
A * superannuation benefit is the end benefit for a * superannuation interest if it is the first superannuation benefit to become payable from the interest, disregarding a benefit that is any of the following:
(a) a * roll-over superannuation benefit paid to a * complying superannuation plan that is a * successor fund;
(b) a benefit that becomes payable under the condition of release specified in item 105 of the table in Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 (about severe financial hardship);
(c) a benefit that becomes payable under the condition of release specified in item 107 of that table (about compassionate ground);
(d) a benefit specified in an instrument under subsection (2). 133-130(2)
The Minister may, by legislative instrument, specify a * superannuation benefit for the purposes of paragraph (1)(d).
133-130(3)
Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply in relation to an instrument made under subsection (2).
133-130(4)
Despite subsection 12(1A) (retrospective commencement of legislative instruments) of the Legislation Act 2003 , an instrument made under subsection (2) of this section must not commence before 1 July 2012.
View history note
Hide history noteNote: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxesA * superannuation benefit is the end benefit for a * superannuation interest if it is the first superannuation benefit to become payable from the interest, disregarding a benefit that is any of the following:
(a) a * roll-over superannuation benefit paid to a * complying superannuation plan that is a * successor fund;
(b) a benefit that becomes payable under the condition of release specified in item 105 of the table in Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994 (about severe financial hardship);
(c) a benefit that becomes payable under the condition of release specified in item 107 of that table (about compassionate ground);
(d) a benefit specified in an instrument under subsection (2). 133-130(2)
The Minister may, by legislative instrument, specify a * superannuation benefit for the purposes of paragraph (1)(d).
[ CCH Note: Legislative Instrument F2013L02050, effective from 1 July 2012, provides that, for subsection 133-130(2), the superannuation benefits specified in the following table are excluded from being an end benefit for the purposes of the taxation law.
| Table of superannuation benefits that are not end benefits | |
| Item | A superannuation benefit that is a: |
| 1 | Family law superannuation payment.] |
Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply in relation to an instrument made under subsection (2).
Despite subsection 12(1A) (retrospective commencement of legislative instruments) of the Legislation Act 2003 , an instrument made under subsection (2) of this section must not commence before 1 July 2012.
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