CHAPTER 3
-
SPECIALIST LIABILITY RULES
PART 3-30
-
SUPERANNUATION
History
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.
Division 307
-
Key concepts relating to superannuation benefits
History
Div 307 inserted by
No 9 of 2007
, s 3 and Sch 1 item 1, applicable on and after 1 July 2007.
Subdivision 307-D
-
Superannuation interests
History
Subdiv 307-D inserted by
No 9 of 2007
, s 3 and Sch 1 item 1, applicable on and after 1 July 2007.
SECTION 307-230
Total superannuation balance
307-230(1)
Your
total superannuation balance
, at a particular time, is the sum of the following:
(a)
the
*
total superannuation balance value, at that time, of each of the following
*
superannuation interests (other than an interest in a
*
superannuation plan that, at that time, is a
*
foreign superannuation fund):
(i)
a superannuation interest of yours;
(ii)
a superannuation interest that supports a
*
superannuation income stream of which you are a
*
retirement phase recipient because of the death of another person;
(b)
(Repealed by No 8 of 2026)
(c)
the amount of each
*
roll-over superannuation benefit:
(i)
paid at or before that time; and
(ii)
received by the
*
complying superannuation plan, or the entity from which the
*
superannuation annuity is being purchased, after that time; and
(iii)
not reflected in the value in paragraph
(a)
;
(d)
if you have an LRBA amount under section
307-231
(about limited recourse borrowing arrangements) in relation to one or more
*
regulated superannuation funds
-
the LRBA amounts for each such regulated superannuation fund.
History
S 307-230(1) amended by No 8 of 2026, s 3 and Sch 2 items 3 and 4, by substituting para (a) for para (a), repealing para (b) and omitting
"
or the balance in paragraph (b)
"
from para (c)(iii), effective 1 April 2026 and applicable in relation to working out what your total superannuation balance is, or what the total superannuation balance value of a superannuation interest is, at a particular time if that time occurs: (a) just before 1 July 2026; or (b) on or after 1 July 2026. Para (a) and (b) formerly read:
(a)
if you have one or more
*
superannuation interests that are not in the
*
retirement phase
-
the
*
accumulation phase values, at that time, of each such interest;
(b)
if you have a
*
transfer balance account
-
the
*
transfer balance of the account at that time (but not less than nil);
S 307-230(1) amended by No 78 of 2019, s 3 and Sch 3 item 1, by inserting para (d), effective 1 January 2020.
Modification for structured settlement contributions
307-230(2)
However, if a
*
structured settlement contribution is made at or before a time in respect of you, your
total superannuation balance
at that time is modified by reducing the sum worked out under subsection
(1)
by the sum of any such structured settlement contributions.
History
S 307-230(2) substituted by No 8 of 2026, s 3 and Sch 2 item 5, effective 1 April 2026 and applicable in relation to working out what your total superannuation balance is, or what the total superannuation balance value of a superannuation interest is, at a particular time if that time occurs: (a) just before 1 July 2026; or (b) on or after 1 July 2026. S 307-230(2) formerly read:
307-230(2)
However, if a
*
structured settlement contribution is made at or before a time in respect of you, your
total superannuation balance
at that time is modified by:
(a)
if you do not have a
*
transfer balance account
-
reducing the sum worked out under subsection (1) by the sum of any such structured settlement contributions; and
(b)
if you have a transfer balance account:
(i)
first, working out the
*
transfer balance mentioned in paragraph (1)(b) disregarding the operation of item 2 of the table in subsection 294-80(1); and
(ii)
then, reducing the sum worked out under subsection (1) (having regard to subparagraph (i) of this paragraph) by the sum of any such structured settlement contributions.
Family law splits
307-230(3)
For the purposes of the provisions mentioned in subsection
(5)
, you are treated as having a
*
superannuation interest in a
*
superannuation plan if:
(a)
you are a
*
non-member spouse in relation to a superannuation interest that:
(i)
is an interest in that superannuation plan; and
(ii)
is subject to a
*
payment split but remains an interest of the
*
member spouse; and
(b)
circumstances prescribed by the regulations for the purposes of this paragraph exist.
History
S 307-230(3) substituted by No 8 of 2026, s 3 and Sch 2 item 5, effective 1 April 2026 and applicable in relation to working out what your total superannuation balance is, or what the total superannuation balance value of a superannuation interest is, at a particular time if that time occurs: (a) just before 1 July 2026; or (b) on or after 1 July 2026. S 307-230(3) formerly read:
307-230(3)
For the purposes of working out the
*
transfer balance mentioned in paragraph
(1)(b)
:
(a)
if a
*
transfer balance credit has arisen, at or before that time, in your
*
transfer balance account in respect of a
*
superannuation income stream covered by subsection (4)
-
disregard the operation of the following provisions in relation to the superannuation income stream:
(i)
items 1 and 2 of the table in subsection
294-25(1)
;
(ii)
items 1, 3, 4, 5 and 6 of the table in subsection
294-80(1)
; and
(b)
if, at that time, you have a
*
superannuation interest that supports a superannuation income stream covered by subsection
(4)
of this section
-
increase the amount of that balance by the total amount of the
*
superannuation benefits that would become payable if:
(i)
you had the right to cause the superannuation interest to cease at that time; and
(ii)
you voluntarily caused the superannuation interest to cease at that time.
307-230(4)
For the purposes of the provisions mentioned in subsection
(5)
, the regulations must specify whether the
*
superannuation interest that you are treated as having is to be treated as being a
*
defined benefit interest.
Note:
Regulations made for the purposes of paragraph
307-230A(1)(a)
may specify the total superannuation balance value of the interest.
History
S 307-230(4) substituted by No 8 of 2026, s 3 and Sch 2 item 5, effective 1 April 2026 and applicable in relation to working out what your total superannuation balance is, or what the total superannuation balance value of a superannuation interest is, at a particular time if that time occurs: (a) just before 1 July 2026; or (b) on or after 1 July 2026. S 307-230(4) formerly read:
307-230(4)
This subsection covers a
*
superannuation income stream that is any of the following:
(a)
an
*
allocated annuity;
(b)
an
*
allocated pension;
(c)
an allocated pension (within the meaning of the
Retirement Savings Accounts Regulations 1997
);
(d)
an
*
account-based annuity;
(e)
an account-based pension (within the meaning of the
Superannuation Industry (Supervision) Regulations 1994
);
(f)
an account based pension (within the meaning of the
Retirement Savings Accounts Regulations 1997
;
(g)
a market linked annuity (within the meaning of the
Superannuation Industry (Supervision) Regulations 1994
);
(h)
a market linked pension (within the meaning of the
Superannuation Industry (Supervision) Regulations 1994
);
(i)
a market linked pension (within the meaning of the
Retirement Savings Accounts Regulations 1997
).
307-230(5)
The provisions are the following:
(a)
subsection
(1)
of this section;
(b)
section
307-230A
;
(c)
the
*
Division 296 tax law.
History
S 307-230(5) inserted by No 8 of 2026, s 3 and Sch 2 item 5, effective 1 April 2026 and applicable in relation to working out what your total superannuation balance is, or what the total superannuation balance value of a superannuation interest is, at a particular time if that time occurs: (a) just before 1 July 2026; or (b) on or after 1 July 2026.
History
S 307-230 inserted by No 81 of 2016, s 3 and Sch 11 item 4, effective 1 January 2017 and applicable in a provision of an Act, regulation or instrument in the same way as that provision applies.
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