Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 294 - Transfer balance cap  

Subdivision 294-E - Modifications for death benefits dependants who are children  

Operative provisions

SECTION 294-195   Cap increment - child recipient on or after 1 July 2017, deceased had no transfer balance account  

294-195(1)    
A cap increment arises if:

(a) on a day (the starting day ) on or after 1 July 2017, you start to be the *child recipient of a *superannuation income stream; and

(b) the deceased did not have a *transfer balance account just before death.

294-195(2)    
The amount of the cap increment is:

(a) the *general transfer balance cap, unless paragraph (b) applies; or

(b) if you are not the only person to receive a *superannuation death benefit because of the death of the person - the proportion of the general transfer balance cap that corresponds to your share of the deceased ' s *superannuation interests.

294-195(3)    
The cap increment arises on the starting day.