Document ID: chunk:federal_register_of_legislation:C2024C00267:section:8:p9
Version: federal_register_of_legislation:C2024C00267
Segment Type: section
Provision Reference: s 8 (pt 9/48)
Character Range: 251091–253953

by the total of all the amounts (if any) included in your assessable income under subsection 82‑10C(3) and subsection 82‑10A(3) that you received at an earlier time (whether in the income year or in an earlier income year); and
 (b) by the total amount of the taxable components of all directed termination payments (if any) received on your behalf at an earlier time (whether in the income year or in an earlier income year).

Directed termination payments—time of receipt when received by entity to which they are directed
 (3) For this section, a directed termination payment is taken to be received on your behalf at the time the entity to which it is directed receives the payment.

Subdivision 82‑C—Pre‑payment statements

Table of sections
82‑10E Transitional termination payments—pre‑payment statements

82‑10E  Transitional termination payments—pre‑payment statements
 (1) This section applies if an entity (the payer) proposes to pay a transitional termination payment to an individual.
 (2) The payer must give the individual a statement (a pre‑payment statement) meeting the requirements of this section.
 (3) The statement must include the following information:
 (a) the amount (if any) that would be the tax free component of the transitional termination payment;
 (b) the amount (if any) that would be the taxable component of the transitional termination payment;
 (c) any other information specified in the regulations.
 (4) The statement must also include details of the opportunity to make a choice in accordance with section 82‑10F.

Subdivision 82‑D—Directed termination payments made to superannuation and other entities

Table of sections
82‑10F Directed termination payments
82‑10G Directed termination payments not assessable income and not exempt income

82‑10F  Directed termination payments
 (1) A transitional termination payment (or part of such a payment) is a directed termination payment if:
 (a) the individual chooses, in accordance with this section, to direct the payment (or part of the payment) to be made; and
 (b) the payment (or part of the payment) is made on the individual's behalf as directed.

Choice to make payment
 (2) An individual may choose, within 30 days after a pre‑payment statement about a transitional termination payment is given to the individual under section 82‑10E, to direct the payer to use all or part of the payment to make a payment on behalf of the individual:
 (a) to a complying superannuation plan; or
 (b) to purchase a superannuation annuity.
 (3) To make the choice, the individual must:
 (a) make it in the approved form; and
 (b) give the completed form to the payer.
 (4) The payer must, immediately after receiving a completed form under subsection (3):
 (a) give the entity (or entities) to which payment is directed written notice of the amount that is to be paid, and of the tax