Income Tax Assessment Act 1997
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View history notePart 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 307 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.
Subdiv 307-D inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.
The value of a * superannuation interest at a particular time is:
(a) if the regulations specify a method for determining the value of the superannuation interest - that value; or
(b) otherwise - the total amount of all the * superannuation lump sums that could be payable from the interest at that time.
S 307-205 amended by No 81 of 2016, s 3 and Sch 11 item 2, by inserting " (1) " before " The value " , effective 1 January 2017 and applicable in a provision of an Act, regulation or instrument in the same way as that provision applies.
307-205(2)
The accumulation phase value of an individual ' s * superannuation interest, at a particular time when the interest is not in the * retirement phase, is:
(a) if the regulations specify that value or a method for determining that value - that value; or
(b) otherwise - the total amount of the * superannuation benefits that would become payable if the individual voluntarily caused the interest to cease at that time.
S 307-205(2) inserted by No 81 of 2016, s 3 and Sch 11 item 3, effective 1 January 2017 and applicable in a provision of an Act, regulation or instrument in the same way as that provision applies.
S 307-205 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.
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