Document ID: chunk:federal_register_of_legislation:F2024C01248:reg:19:p12
Version: federal_register_of_legislation:F2024C01248
Segment Type: reg
Provision Reference: reg 19 (pt 12/14)
Character Range: 84505–87320

complying superannuation plan; and
 (b) the amount is allocated from the reserve for you as a result of the commutation of a superannuation income stream; and
 (c) the commutation is a result of the death of the primary beneficiary; and
 (d) as soon as practicable on or after the commutation, the amount is:
 (i) allocated for you; and
 (ii) paid as a superannuation lump sum and a superannuation death benefit.

Meaning of pension reserve
 (7) A reserve is a pension reserve of a complying superannuation plan at a particular time if the reserve is used at that time solely for the purpose (the pension liability purpose) of enabling the plan to discharge all or part its pension liabilities (contingent or not) as soon as they become due.
 (8) To avoid doubt, for the purposes of subsection (7), if:
 (a) a reserve of a complying superannuation plan is used for the purpose of enabling the plan to discharge all or part of a liability of the plan to pay a superannuation income stream benefit from a superannuation income stream; and
 (b) the superannuation income stream is commuted or otherwise ceases; and
 (c) an amount is allocated from the reserve for a person as a result of the person having been (before the commutation or cessation) the recipient of the superannuation income stream; and
 (d) immediately before the commutation or cessation, the reserve was a pension reserve;
the allocation is taken to be a use of the reserve for the pension liability purpose.

Division 293—Sustaining the superannuation contribution concession

Subdivision 293‑D—Modifications for defined benefit interests

293‑115.05  Preliminary
 (1) This Subdivision is made for the purposes of subsection 293‑115(1) of the Act.
 (2) In this Subdivision:
accruing member, of a superannuation fund for a financial year, means a defined benefit member of the fund who is not a non‑accruing member of the fund for the financial year.
non‑accruing member, of a superannuation fund for a financial year, means:
 (a) a defined benefit member who is a non‑accruing member of the fund for the financial year within the meaning of subsections 291‑170.04(5) to (8); or
 (b) a member of the Governor‑General Pension Scheme for the financial year, unless (for a member who is the Governor‑General) the member commenced office in the financial year.

293‑115.10  Defined benefit contributions—non‑accruing members
 (1) This section applies if you are a non‑accruing member of a superannuation fund for a financial year.
 (2) Your defined benefit contributions for the financial year in respect of your defined benefit interest in the fund is nil.

293‑115.15  Defined benefit contributions—accruing members with funded benefit interests
 (1) This section applies if:
 (a) you are an accruing member of a superannuation fund for the financial