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 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.
To work out the crystallised segment of a *superannuation interest, first assume that:
(a) an eligible termination payment had been made in respect of the holder of the interest just before 1 July 2007; and
(b) the amount of the eligible termination payment had been equal to the *value of the interest at that time. 307-225(2)
The crystallised segment of the *superannuation interest is the total amount of the following components of the eligible termination payment:
(a) the concessional component;
(b) the post-June 1994 invalidity component;
(c) the undeducted contributions;
(d) the CGT exempt component;
(e) the pre-July 83 component.
This section has effect subject to subsection 307-210(2) .
This segment may be reduced if a superannuation benefit is paid from the superannuation interest: see subsection 307-210(2) .
S 307-225(2) amended by No 21 of 2015, s 3 and Sch 4 items 15 and 16, by substituting " the total amount of " for " so much of the *value of the interest as consists of the total of " , and inserting words and note at the end, effective 1 July 2015.
For the purposes of paragraph (2)(e), disregard the *value of the interest just before 1 July 2007 to the extent that it would consist, apart from this subsection, of the *element untaxed in the fund of the *taxable component of a *superannuation benefit constituted by the eligible termination payment. 307-225(4)
In this section, the following terms have the same meaning as in subsection 27A(1) of the Income Tax Assessment Act 1936 (as in force just before 1 July 2007):
(a) concessional component ;
(b) post-June 1994 invalidity component ;
(c) undeducted contributions ;
(d) CGT exempt component ;
(e) pre-July 83 component ;
(f) eligible termination payment .
S 307-225 inserted by No 9 of 2007 , s 3 and Sch 1 item 1, applicable on and after 1 July 2007.
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