Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p11
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 11/79)
Character Range: 4857877–4861048

not apply for a transfer event for the roll‑over if either the transferring entity or the receiving entity is a *life insurance company.
 (2) If the receiving entity for the roll‑over is a *life insurance company, each received asset of that entity is taken:
 (a) to be a *complying superannuation asset of that entity; and
 (b) not to be, in whole or in part, a *life insurance premium.

Subdivision 310‑F—Choices

Table of sections
310‑85 Choices

310‑85  Choices
 (1) A choice under this Division must be made:
 (a) by the day the transferring entity's *income tax return is lodged for the transfer year for the entity; or
 (b) within a further time allowed by the Commissioner.
 (2) The way the transferring entity's *income tax return is prepared is sufficient evidence of the making of the choice.

Division 312—Trans‑Tasman portability of retirement savings

Table of Subdivisions
 Guide to Division 312
312‑A Preliminary
312‑B Amounts contributed to complying superannuation funds from KiwiSaver schemes
312‑C Superannuation benefits paid to KiwiSaver scheme providers

Guide to Division 312

312‑1  What this Division is about
      This Division deals with amounts transferred between KiwiSaver schemes and complying superannuation funds. This Division also deals with amounts paid by the Commissioner to KiwiSaver schemes.

Subdivision 312‑A—Preliminary

Table of sections
312‑5 Division implements Arrangement with New Zealand

312‑5  Division implements Arrangement with New Zealand
  This Division, together with the Superannuation (Unclaimed Money and Lost Members) Act 1999 and regulations made under the Superannuation Industry (Supervision) Act 1993, implement the Arrangement between the Government of Australia and the Government of New Zealand on Trans‑Tasman Retirement Savings Portability, signed at Brisbane on 16 July 2009.

Subdivision 312‑B—Amounts contributed to complying superannuation funds from KiwiSaver schemes

Table of sections
312‑10 Amounts contributed to complying superannuation funds from KiwiSaver schemes

312‑10  Amounts contributed to complying superannuation funds from KiwiSaver schemes

Treat amount as a contribution
 (1) An amount transferred from a *KiwiSaver scheme to a *complying superannuation fund in relation to you is treated as being a contribution you made to the complying superannuation fund for the purpose of providing *superannuation benefits for yourself.
Note 1: The contribution will not be included in the assessable income of the trustee of the complying superannuation fund: see Division 295.
Note 2: The contribution is not included in your concessional contributions: see section 291‑25. Some of the contribution may be included in your non‑concessional contributions: see subsection (3) of this section.
 (2) Division 290 (Contributions to superannuation funds), section 295‑200 (Transfers from foreign superannuation funds) and Subdivision 305‑B (Superannuation benefits from foreign superannuation funds) do not apply to the contribution.

Australian‑sourced amount and returning New Zealand‑sourced amount not non‑concessional
 (3) For the purposes of Subdivision 292‑C (Excess non‑concessional