Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p6
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 6/6)
Character Range: 1034925–1037381

and
 (d) at the *base interest rate for the day the interest is calculated.

131‑75  Income tax treatment of amounts released—proportioning rule does not apply
  Section 307‑125 of the Income Tax Assessment Act 1997 (the proportioning rule) does not apply to a payment made as required or permitted under this Subdivision.
Note: The income tax treatment of released amounts is also affected by Subdivision 292‑B, and section 303‑15, of that Act.

Repayments if your entitlement to a credit ceases for a release authority relating to an FHSS determination

131‑80  Repayments if your entitlement to a credit ceases for a release authority relating to an FHSS determination

Repaying the superannuation provider if it still holds a superannuation interest for you
 (1) If:
 (a) a *superannuation provider pays an amount (the released amount) to the Commissioner under section 131‑35 or 131‑40 in relation to you; and
 (b) your entitlement under section 131‑65 to a credit relating to the released amount ceases under subsection 131‑30(4) or 138‑13(3); and
 (c) the Commissioner reasonably believes that the provider still holds a *superannuation interest for you; and
 (d) the Commissioner reasonably believes that, were the released amount to be repaid to the provider, the provider:
 (i) could allocate the repayment (the repaid amount) to that superannuation interest; and
 (ii) could later pay an amount equal to the repaid amount in response to a release authority issued under this Division in relation to a later *first home super saver determination given to you;
the Commissioner must repay the released amount to the provider.
 (2) The Commissioner must make the repayment within 30 *business days after the day the Commissioner starts holding the reasonable belief necessary to satisfy both paragraphs (1)(c) and (d).

What happens if the original provider cannot be repaid
 (3) However, if the Commissioner cannot repay the released amount under subsection (1), the Commissioner must only pay an equivalent amount to the released amount if an item of the following table applies.

When the Commissioner must pay the equivalent amount
Item                                                  If the Commissioner reasonably believes that:                                                                                                                                                             then the Commissioner must pay the equivalent amount to: