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INCOME TAX ASSESSMENT ACT 1997 - SECT 307.120

Components of superannuation benefit

  (1)   Work out the following components of a * superannuation benefit under this Subdivision:

  (a)   the tax free component ;

  (b)   the taxable component .

  (2)   Work out those components under:

  (a)   if the benefit is not mentioned in paragraph   (b), (c), (d), (e) or (f)--section   307 - 125; or

  (b)   if the benefit is a * superannuation guarantee payment--section   307 - 130; or

  (c)   if the benefit is a * superannuation co - contribution benefit payment--section   307 - 135; or

  (d)   if the benefit is a * contributions - splitting superannuation benefit--section   307 - 140; or

  (e)   if the benefit is a payment under subsection   17(2), (2AB) or (2AC), 20H(2), (2AA), (2A) or (3), 20QF(2), (5) or (6), 21E(2), (5) or (6), 22B(2), (5) or (6),   24G(2), (3A) or (3B) or 24NA(2), (3) or (4) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 --section   307 - 142; or

  (f)   if the benefit is a payment by the Commissioner under subsection   131 - 80(1) or (3) in Schedule   1 to the Taxation Administration Act 1953 --section   307 - 143.

  (3)   Those components may be modified under sections   307 - 145 (which deals with certain disability benefits) and 307 - 150 (which deals with certain * elements untaxed in fund).



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