Document ID: chunk:federal_register_of_legislation:C2010C00648:clause:9_27cab
Version: federal_register_of_legislation:C2010C00648
Segment Type: clause
Provision Reference: sch 9 cl 27CAB
Character Range: 172426–173689

27CAB  Working out the previously exempt amounts for the purposes of a relevant payment under section 27CAA

 (1) For the purposes of section 27CAA, an amount is a previously exempt amount in respect of a relevant payment if:
 (a) the payment day entitlement in respect of the relevant payment, or part of that payment day entitlement, is attributable to the amount; and
 (b) the amount relates to a payment (the previously exempt payment) made from a fund that is an eligible non‑resident non‑complying superannuation fund in relation to a taxpayer; and
 (c) the amount would have been included in the taxpayer's assessable income under subsection 27CAA(1) but for the payment having been made to another eligible non‑resident non‑complying superannuation fund.

 (2) The previously exempt amount in respect of a previously exempt payment is the amount of the previously exempt payment that would have been included in the taxpayer's assessable income by the application of the formula in subsection 27CAA(2) (except the part of the formula that requires the addition of previously exempt amounts).

 (3) In this section:

payment day entitlement has the same meaning as in subsection 27CAA(2).

relevant payment has the same meaning as in subsection 27CAA(2).