Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:8:p17
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 8 (pt 17/41)
Character Range: 674757–677595

New Zealand‑sourced amount that has been received by the same, or another, complying superannuation fund for the second or subsequent time.
Note 1: As part of trans‑Tasman retirement savings portability, a New Zealand‑sourced amount may eventually be received by the same KiwiSaver scheme in which it originally accrued or another KiwiSaver scheme. It will still be a New Zealand‑sourced amount at that time.
Note 2: If retirement savings move between Australia and New Zealand on more than one occasion, it is likely that:
(a) a part of the savings will be a New Zealand‑sourced amount because that part was originally accrued in a KiwiSaver scheme; and
(b) a part of the savings will be an Australian‑sourced amount because that part was originally accrued in a complying superannuation fund.
tax free component of an Australian‑sourced amount means an amount that:
 (a) is, or is part of, an Australian‑sourced amount; and
 (b) was, or was included in, the tax free component of the member's former superannuation interest in Australia before the Australian‑sourced amount was paid to a KiwiSaver scheme.
Note: The Act defines other expressions used in this Part.

12A.03  Payments to which this Part applies
 (1) This Part applies in relation to:
 (a) a payment made between a complying superannuation fund and a KiwiSaver scheme; and
 (b) a payment made between complying superannuation funds that includes a New Zealand‑sourced amount; and
 (c) a payment between complying funds if:
 (i) the member has an interest in the complying superannuation fund that is, or includes, a New Zealand‑sourced amount; and
 (ii) the payment does not include a New Zealand‑sourced amount.
 (2) However, this Part does not apply in relation to the following:
 (a) a defined benefit interest in a defined benefit fund;
 (b) an unfunded public sector superannuation scheme;
 (c) a self managed superannuation fund.
 (3) Also, this Part does not apply in relation to:
 (a) a payment made by a complying superannuation fund to the extent that the payment contains an element untaxed in the fund (within the meaning given by subsection 995‑1(1) of the 1997 Tax Act); and
 (b) benefits that are being paid as a pension.

Division 2—New Zealand‑sourced amounts

12A.04  Application of Division 2
  This Division applies in relation to:
 (a) a New Zealand‑sourced amount received by a complying superannuation fund from a KiwiSaver scheme; and
 (b) the treatment of a New Zealand‑sourced amount in a complying superannuation fund.

12A.05  Treatment of New Zealand‑sourced amounts
  For the purposes of implementing the Arrangement:
 (a) Part 1 of these Regulations applies in relation to a New Zealand‑sourced amount received by a complying superannuation fund from a KiwiSaver scheme; and
 (b) the application of Part 1 is modified to the extent necessary