Commonwealth Numbered Regulations Commonwealth Numbered Regulations
[1] Subregulation 2 (1), after definition of preferred address for service
insert
RSA Regulations means the Retirement Savings Accounts Regulations 1997 .
"SIS Regulations" means the Superannuation Industry (Supervision) Regulations 1994 .
insert in Subdivision 3
98B Spouse contributions-splitting amounts (Act s 27A)
An amount that is rolled over, transferred or allotted under Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations is a contributions-splitting amount for the purpose of the definition of contributions-splitting ETP in subsection 27A (1) of the Act.
98C Election taken to have been made in relation to a qualifying ETP that is a contributions-splitting ETP (Act s 27D)
(1) For paragraph 27D (8) (a) of the Act, an election under subsection 27D (1) of the Act is taken to have been made by a taxpayer in relation to a qualifying ETP that is a contributions‑splitting ETP i f an amount is rolled over, transferred or allotted under Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations.
(2) For paragraph 27D (8) (b) of the Act, the taxpayer is taken to have specified the following matters in an election, taken to have been made under subregulation (1), that the ETP consists only of 1 or more of the following:
(a) subject to subregulation (4) — the taxed element of a post‑June 83 component;
(b) subject to subregulation (4) — undeducted contributions.
(3) For paragraph 27D (8) (c) of the Act, for the purpose of applying section 27D of the Act to an election taken to have been made under subregulation (1), the taxpayer mentioned in section 27D of the Act is the applicant (within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations).
(4) For subregulation (2):
(a) the amount mentioned in paragraph (2) (a) must not exceed the amount of taxed splittable contributions (within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations) that the taxpayer has applied to split under regulation 6.44 of the SIS Regulations or regulation 4.41 of the RSA Regulations; and
(b) the amount mentioned in paragraph (2) (b) must not exceed the amount of untaxed splittable contributions (within the meaning of Division 6.7 of the SIS Regulations or Division 4.5 of the RSA Regulations) that the taxpayer has applied to split under regulation 6.44 of the SIS Regulations or regulation 4.41 of the RSA Regulations.
98D Contributions-splitting applications (Act s 82AAT)
For subsections 82AAT (1BA) and (1CCA) of the Act, an application under regulation 6.44 of the SIS Regulations or regulation 4.41 of the RSA Regulations is a contributions‑splitting application .