INCOME TAX ASSESSMENT REGULATIONS 1997

PART 2A - SPECIALIST LIABILITY RULES  

Division 294 - Transfer balance cap  

Subdivision 294-D - Modifications for certain defined benefit income streams  

REGULATION 294-135.01   294-135.01   TRANSFER BALANCE CREDIT - DETERMINING SPECIAL VALUE OF A SUPERANNUATION INTEREST  


For the purposes of subsection 294-135(4) of the Act, the special value , at a particular time, of a superannuation interest that supports an income stream that is, or was at any time, a superannuation income stream prescribed by regulation 294-130.01 , is the amount worked out using the formula:

Annual entitlement × 16

where:

annual entitlement
means the amount worked out by:


(a) dividing the amount of the first superannuation income stream benefit you are entitled to receive from the income stream just after that time by the number of whole days to which that benefit relates; and


(b) multiplying the result by 365.




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