Document ID: chunk:federal_register_of_legislation:C2013A00082:clause:4_22sd
Version: federal_register_of_legislation:C2013A00082
Segment Type: clause
Provision Reference: sch 4 cl 22SD
Character Range: 81178–82008

22SD  Limit on amount that may be released
 (1) In addition to any requirements in Division 135 in Schedule 1 to the Taxation Administration Act 1953, the amount of a release authority lump sum paid in relation to a release authority issued to a person must not have the effect that the person's retiring allowance is reduced below zero.
 (2) For the purpose of subsection (1), the effect of a release authority lump sum on the amount of the person's retiring allowance is to be worked out after taking account of:
 (a) the amount of any surcharge adjustment applicable in relation to the person's retiring allowance under a provision of this Act; and
 (b) any reduction under section 22DI (which deals with special payments during deferral period); and
 (c) any reduction under Part VAA (which deals with family law splitting).