Document ID: chunk:federal_register_of_legislation:C2017C00177:clause:1_7:p2
Version: federal_register_of_legislation:C2017C00177
Segment Type: clause
Provision Reference: sch 1 cl 7 (pt 2/8)
Character Range: 36008–38824

your capped defined benefit balance from subsection (3) of this section at that time.
 (2) The amount of the excess transfer balance is the lesser of the 2 excesses.
Note: For modifications of the tax treatment of benefits paid from capped defined benefit income streams, see Subdivision 303‑A.

Your capped defined benefit balance
 (3) You have an amount under this subsection (a capped defined benefit balance) at a time equal to:
 (a) the sum of the *transfer balance credits in your *transfer balance account at that time in respect of *capped defined benefit income streams; less
 (b) the sum of the *transfer balance debits (if any) in your transfer balance account at that time in respect of capped defined benefit income streams.

294‑145  Transfer balance debits—special rules for capped defined benefit income streams

Debit for commutation
 (1) Item 1 of the table in subsection 294‑80(1) applies in relation to a *capped defined benefit income stream as if the reference in column 2 of that item to the amount of the *superannuation lump sum were a reference to:
 (a) for a commutation in full—the *debit value, just before the superannuation lump sum is paid, of the *superannuation interest that supports the capped defined benefit income stream; or
 (b) for a commutation in part—the debit value mentioned in paragraph (a), multiplied by the fraction:

where:
SV just after commutation means the *special value, just after the *superannuation lump sum is paid, of the *superannuation interest that supports the *capped defined benefit income stream.
SV just before commutation means the *special value, just before the *superannuation lump sum is paid, of the *superannuation interest that supports the *capped defined benefit income stream.

Debit for events that result in reduced superannuation
 (2) Item 3 of the table in subsection 294‑80(1) (about events that result in reduced superannuation) applies in relation to a *capped defined benefit income stream as if the amount of the debit provided for in section 294‑85 was the *debit value, just before the loss or payment reduces the *value of the *superannuation interest that supports the capped defined benefit income stream, multiplied by the amount worked out using the following formula:
where:
SV just after event means the *special value, worked out just after the loss or payment reduces the *value of the *superannuation interest that supports the *capped defined benefit income stream.
SV just before event means the *special value, worked out just before the loss or payment reduces the *value of the *superannuation interest that supports the *capped defined benefit income stream.

Debit for payment split
 (3) Item 4 of the table in subsection 294‑80(1) (about a debit for a payment split) applies in relation to a *capped defined