Document ID: chunk:federal_register_of_legislation:F2024C01248:reg:19:p11
Version: federal_register_of_legislation:F2024C01248
Segment Type: reg
Provision Reference: reg 19 (pt 11/14)
Character Range: 82042–84741

part of allocations to which paragraph (a) applies is less than 5% of the value of your interest in the complying superannuation plan at the time of allocation; and
 (c) the amount would not be assessable income of the complying superannuation plan if it were made as a contribution.
 (3) This subsection applies if:
 (a) the reserve is a pension reserve of the complying superannuation plan; and
 (b) the amount is allocated from the reserve for you to satisfy a pension liability; and
 (c) that liability is paid during the financial year.
 (4) This subsection applies if:
 (a) the reserve is a pension reserve of the complying superannuation plan; and
 (b) the reserve is used to discharge all or part of a liability of the plan to pay a superannuation income stream benefit from a superannuation income stream of which you are the recipient; and
 (c) the superannuation income stream is commuted or ceases; and
 (d) the commutation or cessation is not a result of the death of the primary beneficiary; and
 (e) the amount is allocated from the reserve for you as a result of you having been (before the commutation or cessation) the recipient of the superannuation income stream; and
 (f) if the reserve relates to more than one superannuation income stream—the allocation is fair and reasonable having regard to:
 (i) for each superannuation income stream that has not been commuted or ceased—the value of the interest that supports the superannuation income stream; and
 (ii) for each superannuation income stream that has been commuted or ceased—the value of the interest, that supported the superannuation income stream, immediately before the superannuation income stream was commuted or ceased.
 (5) This subsection applies if:
 (a) the reserve is a pension reserve of the complying superannuation plan; and
 (b) the amount is allocated from the reserve for you as a result of the commutation of a superannuation income stream; and
 (c) the commutation is a result of the death of the primary beneficiary; and
 (d) you are a death benefits dependant of the primary beneficiary; and
 (e) the amount is allocated from the reserve for you:
 (i) to discharge liabilities of the plan in respect of a superannuation income stream benefit that is payable by the plan as a result of the death of the primary beneficiary; and
 (ii) as soon as practicable on or after the commutation.
 (6) This subsection applies if:
 (a) the reserve is a pension reserve of the complying superannuation plan; and
 (b) the amount is allocated from the reserve for you as a result of the commutation of a superannuation income stream; and
 (c) the commutation is a result of the death of the primary beneficiary; and