Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 307.280

  (1)   The * taxable component of a * superannuation benefit paid from a * superannuation fund that is a * constitutionally protected fund consists wholly of an element untaxed in the fund .

  (2)   Despite subsection   (1), if:

  (a)   the benefit is a * superannuation lump sum; and

  (b)   the benefit is attributable to one or more * roll - over superannuation benefits that consisted of, or included, an * element taxed in the fund;

the * taxable component of the benefit has an element taxed in the fund equal to the total of those elements taxed in the fund.

  (3)   The * taxable component of a * superannuation income stream benefit consists wholly of an element untaxed in the fund if it is paid from a * superannuation fund that was a * constitutionally protected fund on the first day of the period to which the * superannuation income stream relates.