Document ID: chunk:federal_register_of_legislation:F2024C01248:reg:21:p6
Version: federal_register_of_legislation:F2024C01248
Segment Type: reg
Provision Reference: reg 21 (pt 6/8)
Character Range: 225568–228608

to the Treasury Laws Amendment (Military Superannuation Benefits) Regulations 2023

1000‑4.01  Definitions
  In this Part:
2021 commencement time means the commencement time (within the meaning of Part 1000‑1).
amending instrument means the Treasury Laws Amendment (Military Superannuation Benefits) Regulations 2023.
old regulations has the same meaning as in Part 1000‑1.

1000‑4.02  Application of amendments
 (1) The amendments made by Part 1 of Schedule 1 to the amending instrument apply in relation to income years starting on or after 1 July 2023.
 (2) The amendments made by Part 2 of Schedule 1 to the amending instrument apply in relation to superannuation income streams that commenced on or after the 2021 commencement time.

1000‑4.03  Modified continuing application of old regulations
  (1) This section applies for the purposes of the continuing application of the old regulations, in relation to superannuation income streams that commenced before the 2021 commencement time.
 (2) This section applies despite subsection 1000‑1.06(1).
 (3) For the purposes mentioned in subsection (1), treat a superannuation income stream as being prescribed by the old regulations for the purposes of subsection 294‑130(2) of the Act (as a capped defined benefit income stream) if the superannuation income stream:
 (a) would not be so prescribed under that continuing application (apart from this subsection); but
 (b) would be so prescribed under subsection 294‑130.01(7) (as inserted by Part 2 of Schedule 1 to the amending instrument), on the assumption that the superannuation income stream commenced on or after the 2021 commencement time.

Part 1000‑5—Transitional matters relating to the Income Tax Assessment Amendment (Superannuation) Regulations 2024

1000‑5.01  Application of amendments
  Section 294‑25.03 applies if:
 (a) you start to be the retirement phase recipient of the new stream on or after the commencement of this section; or
 (b) both:
 (i) you started to be the retirement phase recipient of the new stream on or after 1 July 2017 and before the commencement of this section; and
 (ii) the amount of the transfer balance debit referred to in paragraph 294‑25.03(1)(e) is less than the special value, on the day you start to be the retirement phase recipient of the new stream, of the new stream.

Part 1000‑6—Transitional matters relating to the Income Tax Assessment Amendment (Transfer Balance Account Value for Certain Superannuation Income Streams) Regulations 2024

1000‑6.01  Definitions
  In this Part:
2021 commencement time means the commencement time (within the meaning of Part 1000‑1).
amending instrument means the Income Tax Assessment Amendment (Transfer Balance Account Value for Certain Superannuation Income Streams) Regulations 2024.
old regulations has the same meaning as in Part 1000‑1.

1000‑6.02  Application of amendments
 (1) Section 294‑80.02B, as inserted by the amending instrument, applies in relation to a superannuation income stream that ceases, as mentioned in paragraph