Document ID: chunk:federal_register_of_legislation:C2025C00029:section:9:p3
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 9 (pt 3/7)
Character Range: 4774132–4777043

sum is a *superannuation benefit that is not a *superannuation income stream benefit (see section 307‑70).
 (2) Treat a lump sum payment arising from a partial commutation of a *superannuation income stream as a superannuation lump sum for the purposes of this Act (other than Subdivision 295‑F).

307‑70  Meaning of superannuation income stream and superannuation income stream benefit
 (1) A superannuation income stream benefit is a *superannuation benefit specified in the regulations that is paid from a *superannuation income stream.
 (2) A superannuation income stream has the meaning given by the regulations.
Note: For the purposes of the transfer balance cap, the meaning of superannuation income stream is affected by subsection 294‑50(2).

307‑75  Meaning of retirement phase superannuation income stream benefit
 (1) A *superannuation income stream benefit is a retirement phase superannuation income stream benefit (or RP superannuation income stream benefit) of a *superannuation fund at a time if it is payable by the fund at that time from a *superannuation income stream that is in the *retirement phase at that time.
 (2) A *superannuation income stream benefit is also a retirement phase superannuation income stream benefit (or RP superannuation income stream benefit) of a *superannuation fund at a time if it is payable by the fund after that time from a *superannuation income stream that:
 (a) is a *deferred superannuation income stream; and
 (b) is in the *retirement phase at that time.

307‑80  When a superannuation income stream is in the retirement phase
 (1) A *superannuation income stream is in the retirement phase at a time if a *superannuation income stream benefit is payable from it at that time.
 (2) A *superannuation income stream is also in the retirement phase at a time if:
 (a) it is a *deferred superannuation income stream; and
 (b) a *superannuation income stream benefit will be payable from it to a person after that time; and
 (c) the person has satisfied (whether at or before that time) a condition of release specified in any of the following items of the table in Schedule 1 to the Superannuation Industry (Supervision) Regulations 1994:
 (i) 101 (retirement);
 (ii) 102A (terminal medical condition);
 (iii) 103 (permanent incapacity);
 (iv) 106 (attaining age 65).
 (3) However, a *superannuation income stream from which a*superannuation income stream benefit is payable is not in the retirement phase at a time if:
 (a) the superannuation income stream is any of the following:
 (i) a transition to retirement income stream (within the meaning of Part 6 of the Superannuation Industry (Supervision) Regulations 1994);
 (ii) a non‑commutable allocated annuity (within the meaning of those regulations);
 (iii) a non‑commutable allocated pension (within the meaning of those regulations);
 (iv) a transition to retirement pension (within the meaning of