Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p14
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 14/33)
Character Range: 4710878–4713680

a departing Australia superannuation payment if it:
 (a) is paid to a person who has departed Australia; and
 (b) is paid:
 (i) in accordance with regulations under the Superannuation Industry (Supervision) Act 1993 or the Retirement Savings Accounts Act 1997 that are specified in regulations made for the purposes of this definition; or
 (ii) in accordance with section 67A of the Small Superannuation Accounts Act 1995; or
 (iii) by an exempt public sector superannuation scheme (within the meaning of section 10 of the Superannuation Industry (Supervision) Act 1993) and is made in accordance with rules of the fund that are substantially similar to the regulations specified as mentioned in subparagraph (i).
 (2) Also, a *superannuation lump sum is a departing Australia superannuation payment if it is paid under subsection 20H(2), (2AA), (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999.
 (3) Despite subsection (2), a *superannuation lump sum paid under subsection 20H(2), (2AA), (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 because a person has been identified in a notice under section 20C of that Act is not a departing Australia superannuation payment if, when it is paid, the Commissioner is satisfied that:
 (a) the person has not been, under the Migration Act 1958, the holder of a temporary visa that ceased to be in effect at least 6 months ago; or
 (b) the person has been the holder of such a visa but has not left Australia (within the meaning of that Act) at least 6 months ago but after starting to be the holder of the visa.
 (4) Despite subsection (2), a *superannuation lump sum that is paid under subsection 20H(2), (2AA), (2A) or (3) of the Superannuation (Unclaimed Money and Lost Members) Act 1999 and is prescribed by the regulations for the purposes of this subsection is not a departing Australia superannuation payment.

301‑175  Treatment of departing Australia superannuation benefits
 (1) Despite anything else in this Division, if you receive a *superannuation benefit that is a *departing Australia superannuation payment, the benefit is not assessable income and is not *exempt income.
 (2) However, you are liable to pay income tax on that payment at the rate declared by the Parliament in respect of *departing Australia superannuation payments.
Note 1: The tax is imposed in the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007 and the amount of the tax is set out in that Act.
Note 2: See the Taxation Administration Act 1953 for provisions dealing with the payment of the tax.

Subdivision 301‑E—Superannuation lump sum member benefits less than $200

Table of sections
301‑225 Superannuation lump sum member benefits less than $200 are tax free

301‑225  Superannuation