Document ID: chunk:federal_register_of_legislation:F2022C01068:reg:13
Version: federal_register_of_legislation:F2022C01068
Segment Type: reg
Provision Reference: reg 13
Character Range: 20629–21843

13  Asset-test exempt income stream resulting from payment of excess contributions tax
  These Principles cover an asset‑test exempt income stream if:
 (a) it is covered by section 9A or 9B of the Act; and
 (b) it is purchased by the primary beneficiary on or after 20 September 2004; and
 (c) it results from another asset-test exempt income stream (the original income stream) being commuted to pay an amount to give effect to a release authority, given in relation to the primary beneficiary, under:
 (i) former section 292-415 of the Income Tax Assessment Act 1997; or
 (ii) section 292-80C of the Income Tax (Transitional Provisions) Act 1997; and
 (d) the original income stream was covered by section 9A or 9B of the Act; and
 (e) the original income stream:
 (i) was purchased before 20 September 2004; or
 (ii) was covered by the 2005 Principles during the period starting on 20 September 2004 and ending at the end of 19 September 2007; or
 (iii) was covered by the 2007 Principles during the period starting on 20 September 2007 and ending at the end of 28 November 2011; or
 (iv) until the commencement of these Principles, was covered by the 2011 Principles; or
 (v) was covered by these Principles.