Document ID: chunk:federal_register_of_legislation:C2012A00075:clause:4_3
Version: federal_register_of_legislation:C2012A00075
Segment Type: clause
Provision Reference: sch 4 cl 3
Character Range: 24265–24782

3  At the end of Division 303
Add:

303‑15  Payments from release authorities for refunded excess concessional contributions
 (1) A *superannuation benefit that you are taken to receive under section 307‑15, paid in relation to a release authority issued in relation to you in accordance with section 292‑420, is not assessable income and is not *exempt income.
 (2) Section 307‑125 (the proportioning rule) does not apply to such a *superannuation benefit.

Part 2—Other amendments

Income Tax Assessment Act 1997