Document ID: chunk:federal_register_of_legislation:C2025C00029:section:12:p2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 12 (pt 2/3)
Character Range: 4615753–4618833

are Australian residents.
 (3) A member is covered by this subsection at a time if the member is:
 (a) a contributor to the fund at that time; or
 (b) an individual on whose behalf contributions have been made, other than an individual:
 (i) who is a foreign resident; and
 (ii) who is not a contributor at that time; and
 (iii) for whom contributions made to the fund on the individual's behalf after the individual became a foreign resident are only payments in respect of a time when the individual was an Australian resident.
 (4) To avoid doubt, the central management and control of a *superannuation fund is ordinarily in Australia at a time even if that central management and control is temporarily outside Australia for a period of not more than 2 years.

295‑100  Deductions for investing in PSTs and life policies
 (1) Provisions of this Act about deducting amounts apply to *complying superannuation funds and *complying approved deposit funds as if *ordinary income and *statutory income received from these investments were included in their assessable income:
 (a) units in a *pooled superannuation trust;
 (b) *life insurance policies issued by a *life insurance company;
 (c) an interest in a trust whose assets consist only of life insurance policies issued by a life insurance company.
Note: Income from these investments is not assessable: see for example sections 295‑105 and 118‑350.
 (2) A *complying superannuation fund cannot deduct an amount (otherwise than under section 295‑465) for fees or charges incurred for:
 (a) *complying superannuation life insurance policies; or
 (b) *exempt life insurance policies; or
 (c) units in a *pooled superannuation trust that are *segregated current pension assets of the fund.

295‑105  Distributions to PST unitholders
  The assessable income of a *complying superannuation entity does not include amounts *derived by the entity because it holds units in a *pooled superannuation trust.
Note: The entity will not be subject to any tax liability when it disposes of the units: see subsection 295‑85(2) and section 118‑350.

Subdivision 295‑C—Contributions included

Guide to Subdivision 295‑C

295‑155  What this Subdivision is about
      There are basically 3 types of assessable contributions:

                (a) those made by a contributor (for example, an employer) on behalf of someone else (for example, an employee); and
                (b) those made on the contributor's own behalf for which the contributor is entitled to a deduction; and
                (c) those transferred from a foreign superannuation fund to an Australian superannuation fund.
      There are some additions and exceptions.

Table of sections

Contributions and payments
295‑160 Contributions and payments
295‑165 Exception—spouse contributions
295‑170 Exception—Government co‑contributions and contributions for a child
295‑173 Exception—trustee contributions
295‑175 Exception—payments by a member spouse
295‑180 Exception—choice to exclude certain contributions
295‑185 Exception—temporary residents

Personal contributions