Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 303.20

Payments from release authorities--paying debt account discharge liability for a superannuation interest

    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.


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