Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p29
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 29/33)
Character Range: 4749298–4752254

of your previously exempt fund earnings is the amount mentioned in paragraph (5)(c) (disregarding the addition of previously exempt fund earnings under subsection (2) or (3) of this section).

305‑80  Lump sums paid into complying superannuation plans—choice
 (1) This section applies if:
 (a) section 305‑70 applies to a *superannuation lump sum that is paid from a *foreign superannuation fund; and
 (b) you are taken to receive the lump sum under section 307‑15; and
 (c) all of the lump sum is paid into a *complying superannuation fund; and
 (d) immediately after the lump sum is paid into the complying superannuation fund, you no longer have a *superannuation interest in the foreign superannuation fund.
 (2) You may choose for all or part of your *applicable fund earnings worked out under section 305‑75 (but not exceeding the amount of the lump sum) to be included in the assessable income of the *complying superannuation plan.
Note: Section 295‑200 provides for the amount specified in the choice to be included in the assessable income of the complying superannuation plan.
 (3) Your choice:
 (a) must be in writing; and
 (b) must comply with the requirements (if any) specified in the regulations.

Division 306—Roll‑overs etc.

Guide to Division 306

306‑1  What this Division is about
      This Division sets out the tax treatment of payments made from one superannuation plan to another superannuation plan, and of similar payments.

Table of sections

Operative provisions
306‑5 Effect of a roll‑over superannuation benefit
306‑10 Roll‑over superannuation benefit
306‑12 Involuntary roll‑over superannuation benefit
306‑15 Tax on excess untaxed roll‑over amounts
306‑20 Effect of payment to government of unclaimed superannuation money
306‑25 Payments connected with financial claims scheme to RSAs

Operative provisions

306‑5  Effect of a roll‑over superannuation benefit
  A *roll‑over superannuation benefit that you are taken to receive under section 307‑15 is not assessable income and is not *exempt income.
Note: Roll‑over superannuation benefits are paid into a complying superannuation plan or are used to purchase a superannuation annuity on your behalf. However, you are taken to receive the benefit under subsection 307‑15(1).

306‑10  Roll‑over superannuation benefit
  A *superannuation benefit is a roll‑over superannuation benefit if:
 (a) the benefit is a *superannuation lump sum and a *superannuation benefit; and
 (b) the benefit is not a superannuation benefit of a kind specified in the regulations; and
 (c) the benefit satisfies any of the following conditions:
 (i) it is paid from a *complying superannuation plan;
 (ii) it is an *unclaimed money payment;
 (iii) it arises from the commutation of a *superannuation annuity;
 (iv) it is a payment under subsection 131‑80(1) or (3) in Schedule 1 to the Taxation Administration Act 1953; and
 (d) the benefit satisfies any of the following conditions:
 (i) it is