Document ID: chunk:federal_register_of_legislation:F2024C01248:reg:5:p7
Version: federal_register_of_legislation:F2024C01248
Segment Type: reg
Provision Reference: reg 5 (pt 7/13)
Character Range: 107804–110550

this section—the amount worked out in respect of that time under subsection 294‑135(3) of the Act.
 (8) For the purposes of paragraphs (7)(a) and (b) of this section, treat:
 (a) the reference in subsection 294‑135(2) of the Act to a capped defined benefit income stream covered by item 1 or 2 of the table in subsection 294‑130(1) of the Act; and
 (b) the reference in subsection 294‑135(3) of the Act to a capped defined benefit income stream covered by any of items 3 to 7 of the table in subsection 294‑130(1) of the Act;
as instead being references to the income stream mentioned in paragraph (6)(a) of this section.
 (9) For the purposes of paragraph (7)(b) of this section, if:
 (a) superannuation income stream benefits are payable under the income stream mentioned in paragraph (6)(a) for a fixed term; but
 (b) despite that fixed term, the superannuation income stream benefits may cease to be payable before the end of the fixed term in certain circumstances;
treat the superannuation income stream benefits as being payable under the income stream throughout the fixed term.

294‑145.01  Transfer balance debits—determining debit value of a superannuation interest
 (1) For the purposes of subsection 294‑145(7) of the Act, the debit value, at a particular time, of a superannuation interest that supports an income stream that is, or was at any time, a superannuation income stream prescribed by section 294‑130.01 of this instrument, is:
 (a) the amount of the transfer balance credit that arose in your transfer balance account in respect of the income stream; less
 (b) the amount of any transfer balance debits (apart from debits arising under item 4 of the table in subsection 294‑80(1) of the Act) that have arisen in your transfer balance account in respect of the income stream before that time.
 (2) Subsection (1) does not apply to a superannuation interest covered by subsection (3).
 (3) This subsection covers a superannuation interest that supports an income stream that is, or was at any time, a superannuation income stream prescribed by section 294‑130.01 to which subsection 294‑130.01(5) applies.
 (4) For the purposes of subsection 294‑145(7) of the Act, the debit value, at a particular time, of a superannuation interest covered by subsection (3) of this section is the amount worked out in respect of that time under subsection 294‑145(6) of the Act.
 (5) For the purposes of subsection (4) of this section, treat the reference in subsection 294‑145(6) of the Act to a capped defined benefit income stream covered by any of items 3 to 7 of the table in subsection 294‑130(1) as instead being a reference to the income stream mentioned in subsection (3) of this section.

Division 295—Taxation of superannuation