Income Tax Assessment Act 1997



Division 294 - Transfer balance cap  

Subdivision 294-C - Transfer balance debits  

Guide to Subdivision 294-C

SECTION 294-75   What this Subdivision is about  

A debit arises in your transfer balance account when superannuation income streams that were previously credited (because they receive the earnings tax exemption) are reduced (other than by draw-downs or investment losses) or lose the earnings tax exemption.

A debit also arises in your transfer balance account when you make a contribution relating to a structured settlement or personal injury, or where certain events occur that result in you having reduced superannuation.

Operative provisions
294-80 Transfer balance debits
294-85 Certain events that result in reduced superannuation
294-90 Payment splits
294-95 Payment splits - no double debiting


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