Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p24
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 24/33)
Character Range: 4736591–4739692

the Superannuation Industry (Supervision) Act 1993.
 (2) Include in your assessable income the amount of a *superannuation benefit if:
 (a) any of the following applies:
 (i) you received the benefit from a *complying approved deposit fund or from an *approved deposit fund that was previously a complying approved deposit fund;
 (ii) the benefit is attributable to the assets of a complying approved deposit fund or from an approved deposit fund that was previously a complying approved deposit fund; and
 (b) you received the benefit otherwise than in accordance with payment standards prescribed under subsection 32(1) of the Superannuation Industry (Supervision) Act 1993.
 (3) Include in your assessable income the amount of a *superannuation benefit you receive from an *RSA in breach of the Retirement Savings Accounts Act 1997, regulations under that Act or payment standards prescribed under subsection 38(2) of that Act.
 (4) However, you do not have to include the amount in your assessable income to the extent that the Commissioner is satisfied that it is unreasonable that it be included having regard to:
 (a) for subsection (1) or (2)—the nature of the fund; and
 (b) any other matters that the Commissioner considers relevant.
 (5) For the purposes of this section, treat your receipt of a benefit (other than a *superannuation benefit) out of, or attributable to, the assets of a *superannuation plan as your receipt of a superannuation benefit.

304‑20  Excess payments from release authorities—paying debt account discharge liability for a superannuation interest
 (1) Despite section 303‑20, a *superannuation benefit that you receive (or are taken to receive), paid in relation to a release authority issued to you in respect of a *release entitlement you have, is assessable income to the extent (if any) that it exceeds the amount mentioned in subsection (2).
Note: Section 303‑20 makes superannuation benefits received under a release authority non‑assessable non‑exempt income.
 (2) The amount is the amount of the *release entitlement, reduced (but not below zero) by the amount of any *superannuation benefit that was not assessable income and not *exempt income under a previous operation of section 303‑20 of this Act in relation to that release entitlement.

Division 305—Superannuation benefits paid from non‑complying superannuation plans

Table of Subdivisions
 Guide to Division 305
305‑A Superannuation benefits from Australian non‑complying superannuation funds
305‑B Superannuation benefits from foreign superannuation funds

Guide to Division 305

305‑1  What this Division is about
      This Division sets out the tax treatment of superannuation benefits received by members of non‑complying plans (including foreign superannuation funds).

Subdivision 305‑A—Superannuation benefits from Australian non‑complying superannuation funds

Table of sections
305‑5 Tax treatment of superannuation benefits from certain Australian non‑complying superannuation funds

305‑5  Tax treatment of superannuation benefits from certain Australian non‑complying superannuation