Document ID: chunk:federal_register_of_legislation:C2017C00177:clause:1_35
Version: federal_register_of_legislation:C2017C00177
Segment Type: clause
Provision Reference: sch 1 cl 35
Character Range: 84395–85132

35  After section 307‑127
Insert:

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).