Document ID: chunk:federal_register_of_legislation:C2009A00062:clause:3_4
Version: federal_register_of_legislation:C2009A00062
Segment Type: clause
Provision Reference: sch 3 cl 4
Character Range: 7854–9933

4  At the end of section 292‑170
Add:
 (8) Despite subsection (1), your notional taxed contributions for the *financial year in respect of the *defined benefit interest are equal to your *concessional contributions cap for the financial year if:
 (a) this Subdivision applies in relation to you because you have a defined benefit interest in a financial year; and
 (b) disregarding this subsection, the notional taxed contributions for the financial year in respect of the defined benefit interest exceed your concessional contributions cap for the financial year; and
 (c) either:
 (i) you held the defined benefit interest in a *superannuation fund on 12 May 2009; or
 (ii) all the requirements in subsection (9) are satisfied; and
 (d) the conditions (if any) specified in the regulations are satisfied; and
 (e) the financial year is the 2009‑2010 financial year or a later financial year.
 (9) For the purposes of subparagraph (8)(c)(ii), the requirements are as follows:
 (a) you held a *defined benefit interest (the original interest) in a *superannuation fund (the original fund) on 12 May 2009;
 (b) the defined benefit interest mentioned in paragraph (8)(a) (the current interest) is in a different superannuation fund (the current fund);
 (c) the entire *value of the original interest:
 (i) was transferred directly to the current interest after 12 May 2009; or
 (ii) was transferred to another *superannuation interest after 12 May 2009, and was later transferred to the current interest (whether directly or through a series of transfers between superannuation interests);
 (d) your rights to accrue future benefits under the current interest are equivalent to your rights to accrue future benefits under the original interest;
 (e) either:
 (i) the notional taxed contributions mentioned in paragraph (8)(b) do not exceed what they would have been if the transfer mentioned in paragraph (c) had not taken place; or
 (ii) the conditions (if any) specified in the regulations are satisfied;
 (f) the conditions (if any) specified in the regulations are satisfied.