Income Tax Assessment Act 1997



Division 304 - Superannuation benefits in breach of legislative requirements etc.  

Operative provisions  

SECTION 304-20   Excess payments from release authorities - paying debt account discharge liability for a superannuation interest  

Despite section 303-20 , a * superannuation benefit that you receive (or are taken to receive), paid in relation to a release authority issued to you in respect of a * release entitlement you have, is assessable income to the extent (if any) that it exceeds the amount mentioned in subsection (2).


Section 303-20 makes superannuation benefits received under a release authority non-assessable non-exempt income.

The amount is the amount of the * release entitlement, reduced (but not below zero) by the amount of any * superannuation benefit that was not assessable income and not * exempt income under a previous operation of section 303-20 of this Act in relation to that release entitlement.


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