Document ID: chunk:federal_register_of_legislation:C2022C00264:clause:11_146rd
Version: federal_register_of_legislation:C2022C00264
Segment Type: clause
Provision Reference: sch 11 cl 146RD
Character Range: 628484–629366

146RD  Limit on amount that may be released
 (1) In addition to any requirements in Division 135 in Schedule 1 to the Taxation Administration Act 1953, the amount of a release authority lump sum must not have the effect that a benefit specified in an election under section 146RC is reduced below zero.
 (2) For the purpose of subsection (1), the effect of a release authority lump sum on the amount of a benefit specified in an election under section 146RC is to be worked out after taking account of:
 (a) the person's surcharge deduction amount (if any); and
 (b) any reduction under section 79D (which deals with reductions for early release lump sums); and
 (c) any reductions under Division 3 of Part IXB (which deals with family law splitting).
 (3) Apart from subsection (2), the amount of a release authority lump sum is not to be reduced under any provision of this Act.