Commonwealth Numbered Regulations

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TREASURY LAWS AMENDMENT (FAIR AND SUSTAINABLE SUPERANNUATION) REGULATIONS 2017 (F2017L00321) - SCHEDULE 3

Non-concessional contributions

   

Retirement Savings Accounts Regulations 1997

1  Subregulation 5.03(1)

Omit "(3),".

2  Subregulation 5.03(3)

Repeal the subregulation.

3  Subregulation 5.03(4)

Omit ", (2) or (3)" (first and second occurring), substitute "or (2)".

4  Subparagraphs 5.03(4)(a)(i) and (ii)

Repeal the subparagraphs, substitute:

                              (i)  the amount was received in a manner that is inconsistent with subregulation (2); and

                             (ii)  the RSA holder's tax file number is quoted (for superannuation purposes) within 30 days of the amount being received by the RSA institution; and

5  Sub-subparagraph 5.03(4)(b)(v)(D)

Omit ", (2) or (3)", substitute "or (2)".

6  Subregulation 5.03(7) (definitions of non-concessional contributions cap and RSA-capped contributions )

Repeal the definitions.

Superannuation Industry (Supervision) Regulations 1994

7  Subregulation 7.04(1)

Omit "(3),".

8  Subregulation 7.04(3)

Repeal the subregulation.

9  Subregulation 7.04(4)

Omit ", (2) or (3)" (first and second occurring), substitute "or (2)".

10  Subparagraphs 7.04(4)(a)(i) and (ii)

Repeal the subparagraphs, substitute:

                              (i)  the amount was received in a manner that is inconsistent with subregulation (2); and

                             (ii)  the member's tax file number is quoted (for superannuation purposes) within 30 days of the amount being received by the trustee of the fund; and

11  Sub-subparagraph 7.04(4)(b)(v)(D)

Omit ", (2) or (3)", substitute "or (2)".

12  Subregulation 7.04(7) (definitions of fund-capped contributions and non-concessional contributions cap )

Repeal the definitions.

13  Subregulations 12A.08(6) and (7)

Repeal the subregulations.



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