Superannuation Industry (Supervision) Regulations 1994

PART 6 - PAYMENT STANDARDS  

Division 6.7 - Spouse contributions-splitting amounts  

REGULATION 6.41   MEANING OF TAXED SPLITTABLE CONTRIBUTION , UNTAXED SPLITTABLE CONTRIBUTION AND UNTAXED SPLITTABLE EMPLOYER CONTRIBUTION  

6.41(1)   [Contributions that are taxed splittable contributions]  

Subject to subregulation (2), a taxed splittable contribution is:


(a) a contribution that will be included in the assessable income of an entity as:


(i) a taxable contribution for section 274 of the Tax Act; or

(ii) a contribution under Subdivision 295-C of the 1997 Tax Act; or


(b) (Repealed by SLI No 189 of 2006)


(c) an allocated surplus contribution amount.

6.41(2)   [Contributions that are not taxed splittable contributions]  

Each of the following is not a taxed splittable contribution :


(a) a roll-over superannuation benefit within the meaning of Division 306 of the 1997 Tax Act;


(b) an amount allotted under this Division;


(c) a superannuation lump sum that is paid from a foreign superannuation fund.

6.41(3)   [Contributions that are untaxed splittable contributions]  

Subject to subregulation (4), an untaxed splittable contribution :


(a) is a contribution made by a fund member or by another person to a regulated superannuation fund; but


(b) does not include a contribution of that kind that:


(i) is made after 5 April 2007; and

(ii) will not be included in the assessable income of an entity as:

(A) a taxable contribution for section 274 of the Tax Act; or

(B) a contribution under Subdivision 295-C of the 1997 Tax Act.

6.41(4)   [Contributions that are not untaxed splittable contributions]  

Each of the following is not an untaxed splittable contribution :


(a) a payment made to a superannuation fund by an employer, or by another person under an agreement to which the employer is a party, for the purpose of providing superannuation benefits for, or for dependants of, an employee of the employer;


(b) a roll-over superannuation benefit within the meaning of Division 306 of the 1997 Tax Act;


(c) an amount allotted under this Division;


(d) superannuation lump sum that is paid from a foreign superannuation fund.

6.41(5)   [ " untaxed splittable employer contribution " ]  

Subject to subregulation (6), an untaxed splittable employer contribution:


(a) is a contribution made by the Commonwealth, a State or a Territory to a public sector superannuation scheme; but


(b) does not include a contribution of that kind that will be included in the assessable income of an entity as:


(i) a taxable contribution for section 274 of the Tax Act; or

(ii) a contribution under Subdivision 295-C of the 1997 Tax Act.

6.41(6)   [ Contributions that are not untaxed splittable employer contributions]  

Each of the following is not an untaxed splittable employer contribution:


(a) a roll-over superannuation benefit within the meaning of Division 306 of the 1997 Tax Act;


(b) an amount allotted under this Division;


(c) a superannuation lump sum that is paid from a foreign superannuation fund.


 

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