Commonwealth Numbered Regulations

INCOME TAX ASSESSMENT (1997 ACT) REGULATIONS 2021 (F2021L00206) - REG 301.225.01

             (1)  For the purposes of paragraph 301-225(1)(d) of the Act, this section specifies requirements in relation to a superannuation member benefit.

Note:          The effect of section 301-225 of the Act is that a superannuation member benefit is not assessable income and is not exempt income in certain circumstances (which include satisfying the requirements in subsection (2) of this section).

             (2)  A requirement is that the member's benefit must be released under:

                     (a)  item 104 or 111 of Part 1 of Schedule 1 to the SIS Regulations; or

                     (b)  item 211 of Part 2 of Schedule 1 to the SIS Regulations; or

                     (c)  item 111 of Schedule 2 to the RSA Regulations.