Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-30
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SUPERANNUATION
The tax free component of a *superannuation interest is so much of the *value of the interest as consists of:
(a) the *contributions segment of the interest; and
(b) the *crystallised segment of the interest.
If a *superannuation benefit is paid from the *superannuation interest:
(a) the *crystallised segment of the interest is reduced (but not below zero) by an amount equal to the *tax free component of the benefit; and
(b) if any of that amount remains, the *contributions segment of the interest is reduced (but not below zero) by that remaining amount.
Division 307
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Key concepts relating to superannuation benefits
Subdivision 307-D
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Superannuation interests
SECTION 307-210
Tax free component
of superannuation interest
307-210(1)
The tax free component of a *superannuation interest is so much of the *value of the interest as consists of:
(a) the *contributions segment of the interest; and
(b) the *crystallised segment of the interest.
Tax free component reduces if a benefit is paid
307-210(2)
If a *superannuation benefit is paid from the *superannuation interest:
(a) the *crystallised segment of the interest is reduced (but not below zero) by an amount equal to the *tax free component of the benefit; and
(b) if any of that amount remains, the *contributions segment of the interest is reduced (but not below zero) by that remaining amount.
Note:
This has the effect of reducing the interest ' s tax free component by the amount of the benefit ' s tax free component.
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