Taxation Administration Act - Variation to the rate of withholding for certain terminally ill recipients of lump sum superannuation member benefits 
Reference: OPS 2007/8
Document type: Legislative Instrument
Enabling act: Taxation Administration Act 1953
Date of issue: 25 September 2007
Signatory: Erin Holland Deputy Commissioner of Taxation
Registration number: F2007C00768
Registration date: 12 October 2007

Citation (see Note 1): 1. This instrument is the Taxation Administration Act - Variation to the rate of withholding for certain terminally ill recipients of lump sum superannuation member benefits .

2. This instrument commences on 12 September 2007 and ceases to have effect on 1 July 2008.: Application of instrument 3. This variation ensures that withholding is not required from payments made to terminally ill recipients of lump sum superannuation member benefits in circumstances where the payment will not be subject to income tax as a result of law changes which were announced on 11 September 2007 but not yet enacted. Variation to the rate of withholding 4. This instrument varies to nil the amount required to be withheld from a withholding payment which is: • a superannuation member benefit within the meaning of subsection 307-5(2) of the Income Tax Assessment Act 1997 , and • a superannuation lump sum within the meaning of section 307-65 of the Income Tax Assessment Act 1997 , and • paid to a member in accordance with the payment standards prescribed in: • in the case of a benefit paid from a complying superannuation fund - subsection 31(1) of the Superannuation Industry (Supervision) Act 1993 , or • in the case of a benefit paid from an approved deposit fund - subsection 32(1) of that Act, or • in the case of a benefit paid from a retirement savings account - subsection 38(2) of the Retirement Savings Accounts Act 1997 in circumstances where the member is terminally ill. • a superannuation member benefit within the meaning of subsection 307-5(2) of the Income Tax Assessment Act 1997 , and • a superannuation lump sum within the meaning of section 307-65 of the Income Tax Assessment Act 1997 , and • paid to a member in accordance with the payment standards prescribed in: • in the case of a benefit paid from a complying superannuation fund - subsection 31(1) of the Superannuation Industry (Supervision) Act 1993 , or • in the case of a benefit paid from an approved deposit fund - subsection 32(1) of that Act, or • in the case of a benefit paid from a retirement savings account - subsection 38(2) of the Retirement Savings Accounts Act 1997 • in the case of a benefit paid from a complying superannuation fund - subsection 31(1) of the Superannuation Industry (Supervision) Act 1993 , or • in the case of a benefit paid from an approved deposit fund - subsection 32(1) of that Act, or • in the case of a benefit paid from a retirement savings account - subsection 38(2) of the Retirement Savings Accounts Act 1997 in circumstances where the member is terminally ill. A payee will be taken to be terminally ill if it is certified by two medical practitioners (at least one of these a specialist) that they are suffering from an illness which in the normal course would result in death within a period of 12 months. Notes to the Variation to the rate of withholding for certain terminally ill recipients of lump sum superannuation member benefits Note 1: The A New Tax System (Goods and Services Tax) Act 1999 Classes of Recipient Created Tax Invoice Determination (No. 3) 2000 (in force under subsection 29-70(3) of the A New Tax System (Goods and Services Tax) Act 1999) as shown in this compilation is amended as indicated in the Tables below. Table of Instruments Title Date of FRLI registration Date of commencement Variation to the rate of withholding for certain terminally ill recipients of lump sum superannuation member benefits 25 September 2007 12 September 2007 Variation to the rate of withholding for certain terminally ill recipients of lump sum superannuation member benefits Amendment (No. 1) 2007 4 October 2007 12 September 2007 Table of Amendments Provision affected How affected The third sub paragraph of paragraph 4 of the relevant instrument. am. ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted