Income Tax Assessment Regulations 1997 (Repealed)
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View history notePart 3 heading inserted by SLI No 103 of 2007, reg 3 and Sch 1 item 3, applicable in relation to a financial year that starts on or after 1 July 2007.
Div 307 inserted by SLI No 90 of 2007, reg 4 and Sch 2 item 1, effective 1 July 2007.
Subdiv 307-D inserted by SLI No 90 of 2007, reg 4 and Sch 2 item 1, effective 1 July 2007.
For the purposes of paragraph 307-205(1)(a) of the Act, the value at a particular time of an individual ' s superannuation interest that supports a pooled investment pension is the value of so much of the collective pool of assets in the fund at that time as is:
(a) attributed to the individual under the rules of the fund; and
(b) specified in an actuary ' s certificate.
307-205.02D(2)
A pooled investment pension is a superannuation income stream supported by an individual ' s superannuation interest if:
(a) the interest is in a superannuation fund; and
(b) the rules for the provision of the income stream ensure that, once payments of the income stream start, the income stream is to continue for the remainder of the individual ' s life; and
(c) the rules for the provision of the income stream ensure that the amounts of those payments are determined by having regard to:
(i) the age, life expectancy or other factors relevant to the mortality of each individual who has that kind of superannuation interest in the fund; and
(ii) the pool of assets in the fund held for the collective benefit of those individuals.
Reg 307-205.02D inserted by FRLI No F2017L00704, reg 4 and Sch 1 item 5, effective 1 July 2017.
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