Superannuation Industry (Supervision) Regulations 1994
Note: Approved deposit funds do not have restricted non-preserved benefits.REGULATION 6.08 RESTRICTED NON-PRESERVED BENEFITS IN REGULATED SUPERANNUATION FUNDS - ON AND AFTER 1 JULY 1999 6.08(1) [Amount of restricted non-preserved benefits]
Subject to regulations 6.09 and 6.12 and to Subdivision 6.1.5 , the amount of a member's restricted non-preserved benefits in a regulated superannuation fund at any time on or after 1 July 1999 is the sum of the following amounts:
(i) for a type A member who is a defined benefit member and for whom the trustee of the regulated superannuation fund chooses to apply this subparagraph - the greater of the amounts of restricted non-preserved benefits in the fund, worked out under subregulation 6.07(1) , that would be payable to the member on 1 July 1999 if, on 1 July 1999, the member:
(A) resigned from employment; or
(B) was retrenched from employment; or
(ii) for a member to whom subparagraph (i) does not apply - the member's restricted non-preserved benefits in the fund on 30 June 1999, worked out under regulation 6.07 ; and
(b) the member's restricted non-preserved benefits received by the fund from another regulated superannuation fund, an RSA or an EPSSS on and after 1 July 1999.
(a) on or after 1 July 1999, a deduction is allowed for the member under the former section 82AAT of the Income Tax Assessment Act 1936 for a member contribution made before 1 July 1999; and
(b) the benefits arising from the contribution were previously allocated to restricted non-preserved benefits;
the benefits are taken to be preserved benefits.