Document ID: chunk:federal_register_of_legislation:C2019C00214:clause:1_1:p2
Version: federal_register_of_legislation:C2019C00214
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 2/7)
Character Range: 13463–16156

held by a complying superannuation fund (the original fund); or
 (c) for an entity that is a trustee of a *pooled superannuation trust—units in the entity were held by a complying superannuation fund (the original fund).

Transfer of accrued default amount and membership of continuing fund
 (3) The second condition is satisfied if:
 (a) under the *arrangement, the original fund transfers, to a *complying superannuation fund (the continuing fund), an *accrued default amount of a person who is a member (within the meaning of the Superannuation Industry (Supervision) Act 1993); and
 (b) the amount is transferred to the continuing fund:
 (i) as a result of an election made under paragraph 29SAA(1)(b) of that Act; or
 (ii) under section 388 of that Act; and
 (c) the member is a member of the continuing fund immediately after the time that the transfer occurs (the completion time).

Choice relates to period from 1 July 2013 to 1 July 2017
 (4) The third condition is satisfied if the completion time occurs during the period beginning on 1 July 2013 and ending on 1 July 2017.

Subdivision 311‑C—Consequences of choosing to transfer losses

Table of sections
311‑15 Who losses can be transferred to
311‑20 Losses that can be transferred
311‑25 Effect of transferring a net capital loss
311‑30 Effect of transferring a tax loss
311‑35 Realisation of certain assets after completion time

311‑15  Who losses can be transferred to
  The transferring entity can choose to transfer any or all of the transferring entity's losses set out in section 311‑20, in whole or in part, to one or more of the following entities (a receiving entity):
 (a) the continuing fund for the choice;
 (b) a *pooled superannuation trust in which units are held by the continuing fund for the choice just after the completion time;
 (c) a *life insurance company with which a *complying superannuation/FHSA life insurance policy is held by the continuing fund for the choice just after the completion time.

311‑20  Losses that can be transferred
 (1) The transferring entity's losses that can be transferred are:
 (a) any of its *net capital losses for income years earlier than the income year that includes the completion time (the transfer year), to the extent that they were not *utilised before the completion time; and
 (b) any net capital loss it would have made for the transfer year were the transfer year to have ended at the completion time; and
 (c) any of its *tax losses for income years earlier than the transfer year, to the extent that they were not utilised before the completion time; and
 (d) any tax loss it would have incurred for the transfer year were the transfer year to have ended at