Income Tax Assessment Act 1997



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  


(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.


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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