Document ID: chunk:federal_register_of_legislation:C2007A00009:clause:1_1:p3
Version: federal_register_of_legislation:C2007A00009
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 3/29)
Character Range: 13395–16593

also include a "tax free component"; this component of the benefit is always paid tax free.

 (6) Additional tax concessions may apply when superannuation benefits are paid after a member's death.

280‑35  Benefits phase—roll‑overs

  A member can "roll over" their superannuation benefits from one complying superannuation plan to another, or between different interests in the same plan. This is usually done to keep the benefits invested in the superannuation system, or to convert a lump sum to a superannuation income stream. No tax is generally payable until the benefits are finally drawn down.

The regulatory scheme outside this Act

280‑40  Other relevant legislative schemes

 (1) The Superannuation Industry (Supervision) Act 1993 and the Retirement Savings Accounts Act 1997 regulate the prudential and operating standards for superannuation providers. Concessional tax treatment is generally available only if providers comply with these standards.

 (2) Other legislative schemes relevant to superannuation include the following:
 (a) the Superannuation Guarantee (Administration) Act 1992, which requires that employers provide a minimum level of superannuation contributions for each of their eligible employees;
 (b) the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003, which provides for Government co‑contributions to low income earners' superannuation;
 (c) the Small Superannuation Accounts Act 1995, which provides a facility to accept payments of superannuation guarantee shortfalls;
 (d) the Superannuation (Unclaimed Money and Lost Members) Act 1999, which provides for the payment of unclaimed superannuation money, and the maintenance of a register of lost members.

Division 290—Contributions to superannuation funds

Table of Subdivisions

 Guide to Division 290
290‑A General rules
290‑B Deduction of employer contributions and other employment‑connected contributions
290‑C Deducting personal contributions
290‑D Tax offsets for spouse contributions

Guide to Division 290

290‑1  What this Division is about

      This Division sets out the rules for deductions and tax offsets for superannuation contributions.

Subdivision 290‑A—General rules

Table of sections

290‑5 Non‑application to roll‑over superannuation benefits etc.
290‑10 No deductions other than under this Division

290‑5  Non‑application to roll‑over superannuation benefits etc.

  This Division does not apply to a contribution that is any of the following:
 (a) a *roll‑over superannuation benefit;
 (b) a *superannuation lump sum that is paid from a *foreign superannuation fund.

290‑10  No deductions other than under this Division

 (1) You cannot deduct under this Act an amount you pay as a contribution to a *complying superannuation fund or *RSA, except as provided by this Division.

 (2) You cannot deduct under this Act an amount you pay as a contribution to a *non‑complying superannuation fund, except as provided by this Division.

Note: Under Subdivision 290‑B (Deduction of employer contributions and other employment‑connected contributions), you may be able to deduct contributions you make to a non‑complying fund that you believe to be a