Income Tax Assessment Act 1997
View history note
Hide history noteThis section applies to a *superannuation member benefit that:
(a) is a *superannuation lump sum; and
(b) is:
(i) paid from a *complying superannuation plan; or
(ii) a *superannuation guarantee payment, a *small superannuation account payment, an *unclaimed money payment, a *superannuation co-contribution benefit payment or a *superannuation annuity payment.
303-10(2)
The lump sum is not assessable income and is not *exempt income if a *terminal medical condition exists in relation to you when you receive the lump sum or within 90 days after you receive it.
Note:
For a lump sum you receive in the 2007-08 financial year, the period of 90 days may be extended until 30 June 2008: see section 303-10 of the Income Tax (Transitional Provisions) Act 1997 .
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