INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-30 - SUPERANNUATION  

Division 307 - Key concepts relating to superannuation benefits  

Subdivision 307-E - Elements taxed and untaxed in the fund of the taxable component of superannuation benefit  

SECTION 307-285   Trustee can choose to convert element taxed in the fund to element untaxed in the fund  

307-285(1)  
If:


(a) you receive a *superannuation benefit from a *public sector superannuation scheme; and


(b) the trustee of the scheme gives you written notice specifying an amount as the *element untaxed in the fund of the *taxable component of the benefit; and


(c) the notice is given within the time and in the manner approved by the Commissioner in writing; and


(d) the scheme came into operation on or before 5 September 2006;

the taxable component consists of an element untaxed in the fund equal to the specified amount.

307-285(2)  


The trustee of the scheme can give only one notice under subsection (1) in relation to a particular *superannuation lump sum.

 

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