Commonwealth Consolidated Acts Commonwealth Consolidated ActsA * superannuation lump sum you receive from a * foreign superannuation fund is not assessable income and is not * exempt income if:
(a) you receive it within 6 months after you become an Australian resident; and
(b) it relates only to a period:
(i) when you were not an Australian resident; or
(ii) starting after you became an Australian resident and ending before you receive the payment; and
(c) it does not exceed the amount in the fund that was vested in you when you received the payment.
Note: If you received the lump sum after that period of 6 months, or the lump sum exceeds the vested amount, the payment will fall within section 305 - 70.