Taxation Determination

TD 2006/34W

Income tax: will the Commissioner exercise his discretion under subsection 27H(3) of the Income Tax Assessment Act 1936 in determining the deductible amount in relation to a superannuation pension or 'eligible annuity' split pursuant to an agreement or court order on marriage breakdown?

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Notice of Withdrawal

Taxation Determination TD 2006/34 is withdrawn with effect from today.

1. TD 2006/34 explains that the Commissioner will exercise his discretion under subsection 27H(3) of the Income Tax Assessment Act 1936 (ITAA1936) in determining the deductible amount where a superannuation pension or annuity is split between a member and non-member spouse pursuant to an agreement or court order on marriage breakdown.

2. Subsection 27H of the ITAA 1936 was amended by the Superannuation Legislation Amendment (Simplification) Act 2007 and no longer applies to superannuation income streams.

3. TD 2006/34 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
20 December 2016

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Previously issued as TD 2006/D3

References

ATO references:
NO 1-9N72KXS

Subject References:
deductible amount
eligible annuity
purchase price
residual capital value
superannuation
superannuation pension
undeducted purchase price

Legislative References:
TAA 1953
ITAA 1936 27A
ITAA 1936 27A(1)
ITAA 1936 27ACA
ITAA 1936 27H(1)
ITAA 1936 27H(2)
ITAA 1936 27H(3)
ITAA 1936 27H(3)(e)
ITAA 1936 27H(4)
ITAA 1936 140C
ITAA 1936 140M
ITAA 1936 140M(1A)
ITAA 1936 140M(1A)(e)
ITAA 1936 140M(1C)(g)
Family Law Act 1975 Pt VIIIB
Family Law Act 1975 90MD
Family Law Act 1975 90MJ
Family Law Act 1975 90MT