Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p37
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 92657–95449

continue to be unrestricted non‑preserved benefits in that RSA.

Subdivision 4.1.5—Miscellaneous

4.17  Contributions and benefits taken to be preserved benefits
 (1) Contributions made, or benefits rolled over or transferred, to an RSA are taken to be preserved benefits for the purposes of this Division unless and until the RSA provider is satisfied that they are not preserved benefits.
 (2) Benefits rolled over, transferred or allotted under Division 4.5 to an RSA held by, or created for, a receiving spouse are taken to be preserved benefits for the purposes of this Division.

4.17A  When benefits rolled over or transferred are unrestricted non‑preserved benefits
  Benefits rolled over or transferred to an RSA are unrestricted non‑preserved benefits if:
 (a) the benefits were rolled over or transferred from:
 (i) a superannuation fund (Fund A) during its transitional period; or
 (ii) a regulated superannuation fund or an approved deposit fund to which the benefits were rolled over or transferred from a superannuation fund (Fund B) during its transitional period; and
 (b) the RSA provider is reasonably satisfied that:
 (i) during the transitional period of Fund A or Fund B, there arose in relation to the benefits a circumstance that would have resulted in the satisfaction of a condition of release and a 'Nil' cashing restriction if the SIS Regulations applied; or
 (ii) before the benefits were rolled over or transferred to Fund A or Fund B from a regulated superannuation fund or an approved deposit fund, the relevant cashing restriction set out in Schedule 1 of the SIS Regulations in respect of the benefits was 'Nil'.

4.17B  Investment earnings taken to be unrestricted non‑preserved benefits
 (1) An investment earning in relation to a benefit of any kind is an unrestricted non‑preserved benefit on a day if:
 (a) the benefit was cashed, before that day, in the form of a non‑commutable life pension; and
 (b) for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the pensioner has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'; and
 (c) the pension commenced to be paid before that day.
 (2) An investment earning in relation to a benefit of any kind is an unrestricted non‑preserved benefit on a day if:
 (a) the benefit was cashed, before that day, in the form of a non‑commutable life annuity; and
 (b) for a benefit that was commenced under the condition of release mentioned in item 108B of Schedule 2, the annuitant has satisfied a condition of release in respect of which the cashing restriction for preserved benefits and restricted non‑preserved benefits is 'Nil'; and
 (c) the annuity commenced to be