Document ID: chunk:federal_register_of_legislation:C2010C00404:clause:7_4
Version: federal_register_of_legislation:C2010C00404
Segment Type: clause
Provision Reference: sch 7 cl 4
Character Range: 27503–28535

4  After Division 302
Insert:

Division 303—Superannuation benefits paid in special circumstances

Table of sections

303‑10 Superannuation lump sum paid to member having a terminal medical condition

303‑10  Superannuation lump sum member benefit paid to member having a terminal medical condition

 (1) This section applies to a superannuation member benefit that you receive during the 2007‑08 financial year and that:
 (a) is a superannuation lump sum; and
 (b) is:
 (i) paid from a complying superannuation plan; or
 (ii) a superannuation guarantee payment, a small superannuation account payment, an unclaimed money payment, a superannuation co‑contribution benefit payment or a superannuation annuity payment.

 (2) The lump sum is not assessable income and is not exempt income if a terminal medical condition exists in relation to you at a time in the period:
 (a) starting when you receive the lump sum; and
 (b) ending at the later of:
 (i) 90 days after you receive it; and
 (ii) 30 June 2008.

Part 2—Application