Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p28
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 28/33)
Character Range: 4746991–4749574

total amount from the amount in the fund that was vested in you when the lump sum was paid (before any deduction for *foreign income tax);
 (c) add the total of all your previously exempt fund earnings (if any) covered by subsections (5) and (6).

If you were not an Australian resident at all times
 (3) If you become an Australian resident after the start of the period to which the lump sum relates (but before you received it) the amount of your applicable fund earnings is the amount (not less than zero) worked out as follows:
 (a) work out the total of the following amounts:
 (i) the amount in the fund that was vested in you just before the day (the start day) you first became an Australian resident during the period;
 (ii) the part of the payment that is attributable to contributions to the fund made by or in respect of you during the remainder of the period;
 (iii) the part of the payment (if any) that is attributable to amounts transferred into the fund from any other *foreign superannuation fund during the remainder of the period;
 (b) subtract that total amount from the amount in the fund that was vested in you when the lump sum was paid (before any deduction for *foreign income tax);
 (c) multiply the resulting amount by the proportion of the total days during the period when you were an Australian resident;
 (d) add the total of all previously exempt fund earnings (if any) covered by subsections (5) and (6).

Previous lump sums from the fund
 (4) If the lump sum is not the first lump sum from the fund you have received to which this section applies, for subsections (2) and (3) the start day is the day after you received the most recent such lump sum.

Previously exempt fund earnings
 (5) You have an amount of previously exempt fund earnings in respect of the lump sum if:
 (a) part or all of the amount in the fund that was vested in you when the lump sum was paid (before any deduction for *foreign income tax) is attributable to the amount; and
 (b) the amount is attributable to a payment received from a *foreign superannuation fund; and
 (c) the amount would have been included in your assessable income under subsection 305‑70(2) by the application of this section, but for the payment having been received by another foreign superannuation fund.
 (6) The amount of your previously exempt fund earnings is the amount mentioned in paragraph (5)(c) (disregarding the addition of previously exempt fund earnings under subsection (2) or (3) of this section).

305‑80  Lump sums paid into complying superannuation plans—choice
 (1) This section