Document ID: chunk:federal_register_of_legislation:C2025C00029:section:9:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 9 (pt 5/7)
Character Range: 4779525–4782462

the benefit is not mentioned in paragraph (b), (c), (d), (e) or (f)—section 307‑125; or
 (b) if the benefit is a *superannuation guarantee payment—section 307‑130; or
 (c) if the benefit is a *superannuation co‑contribution benefit payment—section 307‑135; or
 (d) if the benefit is a *contributions‑splitting superannuation benefit—section 307‑140; or
 (e) if the benefit is a payment under subsection 17(2), (2AB) or (2AC), 20H(2), (2AA), (2A) or (3), 20QF(2), (5) or (6), 21E(2), (5) or (6), 22B(2), (5) or (6), 24G(2), (3A) or (3B) or 24NA(2), (3) or (4) of the Superannuation (Unclaimed Money and Lost Members) Act 1999—section 307‑142; or
 (f) if the benefit is a payment by the Commissioner under subsection 131‑80(1) or (3) in Schedule 1 to the Taxation Administration Act 1953—section 307‑143.
 (3) Those components may be modified under sections 307‑145 (which deals with certain disability benefits) and 307‑150 (which deals with certain *elements untaxed in fund).

307‑125  Proportioning rule
 (1) The object of this section is to ensure that the *tax free component and *taxable component of a *superannuation benefit are calculated by:
 (a) first, determining the proportions of the *value of the *superannuation interest that those components represent; and
 (b) next, applying those proportions to the benefit.
 (2) The *superannuation benefit is taken to be paid in a way such that each of those components of the benefit bears the same proportion to the amount of the benefit that the corresponding component of the *superannuation interest bears to the *value of the superannuation interest.
Example: The amount of a superannuation lump sum is $100. Just before the benefit is paid, the value of the superannuation interest was $1000 (of which $200 was the tax free component and $800 was the taxable component). For the lump sum, the tax free component is $20 and the taxable component is $80.
 (3) For the purposes of subsection (2), determine the *value of the *superannuation interest, and the amount of each of those components of the interest, at whichever of the following times is applicable:
 (a) if the *superannuation benefit is a *superannuation income stream benefit—when the relevant *superannuation income stream commenced;
 (b) if the superannuation benefit is a *superannuation lump sum—just before the benefit is paid;
 (c) despite paragraphs (a) and (b), if the superannuation benefit arises from the commutation of a superannuation income stream:
 (i) if subparagraph (ii) does not apply—when the relevant superannuation income stream commenced; or
 (ii) if the superannuation income stream is a *deferred superannuation income stream that had not commenced before the time the commutation happened—just before the time the commutation happened;
 (d) despite paragraphs (a) and (b), if:
 (i) the superannuation benefit is an *involuntary roll‑over superannuation benefit paid from a superannuation