Document ID: chunk:federal_register_of_legislation:C2024C00267:section:3:p39
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 3 (pt 39/64)
Character Range: 496282–499109

1 or more other events mentioned in subsection (3) happened before the commutation—the time just before the earliest of those events happens.

307‑127  Extension—income stream replacing an earlier one because of an involuntary roll‑over
 (1) Section 307‑125 also applies to a superannuation income stream (the later income stream) if:
 (a) the later income stream commenced using only the amount of an involuntary roll‑over superannuation benefit:
 (i) covered by paragraph 306‑12(a) of the Income Tax Assessment Act 1997; and
 (ii) paid from a superannuation interest (the earlier interest); and
 (b) immediately before that benefit was paid:
 (i) the earlier interest was supporting another superannuation income stream (the earlier income stream); and
 (ii) section 307‑125 of this Act applied to the earlier income stream because of subsection (1) of that section.
 (2) Section 307‑125 applies to the later income stream as if:
 (a) references in that section to the later income stream (in relation to a time, or event happening, before the payment of that involuntary roll‑over superannuation benefit) include references to the earlier income stream; and
 (b) references in that section to the superannuation interest supporting the later income stream (in relation to a time, or event happening, before the payment of that benefit) include references to the earlier interest.

307‑230  Total superannuation balance—modification for transfer balance just before 1 July 2017
 (1) This section applies for the purposes of working out the amount of your total superannuation balance just before 1 July 2017.
 (2) The transfer balance mentioned in paragraph 307‑230(1)(b) of the Income Tax Assessment Act 1997 just before 1 July 2017 is taken to be equal to:
 (a) the sum of the transfer balance credits (if any) in your transfer balance account just after the start of 1 July 2017; less
 (b) the sum of the transfer balance debits (if any) arising in your transfer balance account on 1 July 2017 under item 4 of the table in subsection 294‑80(1) of that Act (about payment splits).

307‑231  Total superannuation balance—limited recourse borrowing arrangements
 (1) Section 307‑231 of the Income Tax Assessment Act 1997 applies in relation to borrowings that arise under contracts entered into on or after 1 July 2018.
 (2) For the purposes of subsection (1), a borrowing (the new borrowing) that arises under a contract entered into on or after 1 July 2018 is treated as if it arose under a contract entered into before 1 July 2018 if:
 (a) the new borrowing is a refinancing of a borrowing (the old borrowing) that was made under a contract:
 (i) entered into before 1 July 2018; and
 (ii) covered by the exception in subsection 67A(1) of the Superannuation Industry (Supervision) Act 1993 (which is about limited recourse