Retirement Savings Accounts Regulations 1997
Subject to Subdivision 4.1.5 , the amount of the unrestricted non-preserved benefits of the holder of an RSA in the RSA is the sum of:
(a) the amount of benefits of the RSA holder that have become unrestricted non-preserved benefits in accordance with regulation 4.14 ; and
(b) the amounts specified in subregulation (2) that the RSA institution receives, before 1 July 2004, in respect of the RSA holder; and
(c) the amount of unrestricted non-preserved benefits received by the RSA institution in respect of the RSA holder; and
(d) the amount of any investment earnings for the period before 1 July 1999 on the amounts mentioned in paragraphs (a), (b) and (c).
View history note
Hide history noteThe amounts mentioned in paragraph (1)(b) are amounts (other than an amount that is a capital gains tax exempt component) that:
(a) will be taken by section 27D of the Tax Act, as in force before 1 July 2007, to have been expended out of eligible termination payments within the meaning of that section; and
(b) have been received from sources other than:
(i) RSAs; or
(ii) superannuation funds within the meaning of the SIS Act; or
(iii) approved deposit funds within the meaning of:
(A) the SIS Act; or
(B) the Occupational Superannuation Standards Act 1987 as in force immediately before the commencement of section 5 of the Occupational Superannuation Standards Amendment Act 1993 ; or
(iv) deferred annuities within the meaning of:
(A) this Part; or
(B) the Occupational Superannuation Standards Regulations.
(a) on or after 1 July 1999, a deduction is allowed for the RSA holder under the former section 82AAT of the Income Tax Assessment Act 1936 for an RSA holder contribution made before 1 July 1999; and
(b) the benefits arising from the contribution were previously allocated to restricted non-preserved benefits that became unrestricted non-preserved benefits under subregulation 4.14(2) ;
the benefits are taken to be preserved benefits.
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