Document ID: chunk:federal_register_of_legislation:C2025C00029:section:7:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 7 (pt 5/12)
Character Range: 4589811–4592686

by regulations made for the purposes of subsection 294‑130(2).

Subdivision 294‑E—Modifications for death benefits dependants who are children

Guide to Subdivision 294‑E

294‑170  What this Subdivision is about

      If you are a death benefits dependant, and a child, you are not required to use your retirement transfer balance cap to receive a death benefits income stream.
      However, there is a cap on the total amount of your death benefits income streams that receives the earnings tax exemption.
      This cap is based on the deceased's superannuation interests in the retirement phase, or, if the deceased did not have any superannuation interests in the retirement phase, on the transfer balance cap.

Table of sections

Operative provisions
294‑175 When this Subdivision applies
294‑180 Transfer balance account ends
294‑185 Transfer balance cap—special rule for child recipient
294‑190 Cap increment—child recipient just before 1 July 2017
294‑195 Cap increment—child recipient on or after 1 July 2017, deceased had no transfer balance account
294‑200 Cap increment—child recipient on or after 1 July 2017, deceased had transfer balance account

Operative provisions

294‑175  When this Subdivision applies
 (1) This Subdivision applies to you if you are a *child recipient of a *superannuation income stream.
 (2) You are a child recipient of a *superannuation income stream if:
 (a) because of the death of a person, you are a *retirement phase recipient of the superannuation income stream; and
 (b) you are a *child, and a *death benefits dependant, of the deceased; and
 (c) you are covered by paragraph 6.21(2A)(b) of the Superannuation Industry (Supervision) Regulations 1994 or paragraph 4.24(3A)(b) of the Retirement Savings Accounts Regulations 1997 (which are about children who are under age 18, or under age 25 and financially dependent or who have a disability).

294‑180  Transfer balance account ends
 (1) Despite sections 294‑15 and 294‑45, your *transfer balance account ceases at a time if:
 (a) just before that time, you were a *child recipient of one or more *superannuation income streams; and
 (b) just after that time, you are no longer a child recipient of any superannuation income stream; and
 (c) no *transfer balance credits arose in the transfer balance account in respect of a superannuation income stream of which you were a *retirement phase recipient, but not a child recipient.
 (2) If you again start to have a *transfer balance account at a later time, this Division applies in relation to that later transfer balance account as if it were the only transfer balance account you have had.

294‑185  Transfer balance cap—special rule for child recipient
 (1) Despite section 294‑35, your transfer balance cap on a day is the sum of the cap increments that have arisen under this Subdivision on and before that day.
Note: