Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016 (81 of 2016)

Schedule 8   Innovative income streams and integrity

Part 1   Amendments

Income Tax Assessment Act 1997

14   Paragraph 307-125(3)(c)

Repeal the paragraph, substitute:

(c) despite paragraphs (a) and (b), if the superannuation benefit arises from the commutation of a superannuation income stream:

(i) if subparagraph (ii) does not apply - when the relevant superannuation income stream commenced; or

(ii) if the superannuation income stream is a *deferred superannuation income stream that had not commenced before the time the commutation happened - just before the time the commutation happened;