Source: https://www.legislation.gov.au/Details/F2016L00710
Timestamp: 2018-01-22 22:45:33
Document Index: 700739967

Matched Legal Cases: ['art 2', 'art 10', 'art 14', 'art 2', 'art 3', 'art 9']

Details: F2016L00710
- F2016L00710
This regulation 2016 (Regulation) amends various regulations.
F2016L00710
Schedule 1—Transfer of superannuation benefits from eligible rollover funds 2
Schedule 2—Various superannuation measures 3
Part 2—Amendments commencing 1 July 2016 4
Superannuation Industry (Supervision) Regulations 1994 4
Schedule 3—Exemption for defence operations 5
Income Tax Assessment (1936 Act) Regulation 2015 5
This is the Tax and Superannuation Laws Amendment (2016 Measures No. 2) Regulation 2016.
At the same time as section 3 of the Australian Defence Force Cover Act 2015 commences.
Schedule 1—Transfer of superannuation benefits from eligible rollover funds
1 At the end of item 10.2 of Part 10 of Schedule 10A
(11) This section does not apply to a change or event in relation to a superannuation product or an RSA product if the change or event happens because of a transfer in accordance with paragraph 6.29(1)(ba) of the Superannuation Industry (Supervision) Regulations 1994 in respect of the product.
2 After paragraph 6.29(1)(b)
(ba) in the case of an eligible rollover fund—the trustee of the fund believes, on reasonable grounds, that:
(i) the member has a superannuation interest in the fund, an interest in the EPSSS, or an RSA interest in the RSA, into which the benefits are to be transferred; and
(ii) the trustee of the fund or EPSSS, or the RSA institution providing the RSA, has received at least one contribution or rollover in respect of the member within the 12 month period ending when the transfer is to be made; or
3 In the appropriate position in Part 14
Division 14.9—Transitional arrangements arising out of the Tax and Superannuation Laws Amendment (2016 Measures No. 2) Regulation 2016
14.10 Arrangements
The amendment made by item 2 of Schedule 1 to the Tax and Superannuation Laws Amendment (2016 Measures No. 2) Regulation 2016 applies to transfers of benefits made on or after the day this regulation commences.
Schedule 2—Various superannuation measures
1 Subparagraph 1.04(5)(a)(iv)
Omit “virtual PST assets”, substitute “complying superannuation assets”.
2 Paragraph 1.04(5)(a) (note 2)
Omit “Life insurance company, segregated exempt assets and virtual PST asset,”, substitute “Complying superannuation asset, life insurance company and segregated exempt assets”.
3 Paragraph 1.04(5)(b)
Omit “102H”, substitute “102Q”.
Part 2—Amendments commencing 1 July 2016
4 Part 3 of Schedule 1AA
Before “Defence Act 1903”, insert “Australian Defence Force Cover Act 2015”.
Schedule 3—Exemption for defence operations
1 Subsection 6(3) (table item 1, column 4)
Omit “1 July 2016”, substitute “1 July 2017”.
2 Subsection 6(3) (table item 3, column 4)
3 Subsection 6(3) (table items 4 and 5)
(e) the Indian Ocean north of latitude 15°S and west of longitude 68°E;
(xix) United Arab Emirates;
4 Subsection 6(3) (table item 6, column 4)
5 At the end of Part 9