Income Tax Assessment Act 1997
Part 3-30 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable to the 2007-2008 income year and later years.
Div 294 inserted by No 81 of 2016, s 3 and Sch 1 item 4, effective 1 January 2017. For application provision, see Subdiv 294-A of Income Tax (Transitional Provisions) Act 1997 .
Subdiv 294-B inserted by No 81 of 2016, s 3 and Sch 1 item 4, effective 1 January 2017. For application provision, see Subdiv 294-A of Income Tax (Transitional Provisions) Act 1997 .
SECTION 294-10 What this Subdivision is about
This Subdivision creates a transfer balance account for you, and credits it, if you have a superannuation income stream in the retirement phase.
It also provides for a transfer balance cap and identifies when you have excess transfer balance.
S 294-10 inserted by No 81 of 2016, s 3 and Sch 1 item 4, effective 1 January 2017. For application provision, see Subdiv 294-A of Income Tax (Transitional Provisions) Act 1997 .
Operative provisions | |
294-15 | When you have a transfer balance account |
294-20 | Meaning of retirement phase recipient |
294-25 | Transfer balance credits |
294-30 | Excess transfer balance |
294-35 | Your transfer balance cap |
294-40 | Proportionally indexed transfer balance cap |
294-45 | Transfer balance account ends |
294-50 | Assumptions about income streams |
294-55 | Repayment of limited recourse borrowing arrangement |
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