Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Act 2013 (82 of 2013)

Schedule 3   Sustaining the superannuation contribution concession

Part 2   Other amendments

Income Tax Assessment Act 1997

9   At the end of Division 303

Add:

303-20 Payments from release authorities - Division 293 tax

A *superannuation benefit that you receive (or are taken to receive), paid in relation to a release authority issued to you in respect of a *release entitlement you have, is not assessable income and is not *exempt income.

Note: However, payments that exceed the release entitlement are assessable: see section 304-20.