Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p37
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 37/80)
Character Range: 4433520–4436658

member can "roll over" their superannuation benefits from one complying superannuation plan to another, or between different interests in the same plan. This is usually done to keep the benefits invested in the superannuation system, or to convert a lump sum to a superannuation income stream. No tax is generally payable until the benefits are finally drawn down.

The regulatory scheme outside this Act

280‑40  Other relevant legislative schemes
 (1) The Superannuation Industry (Supervision) Act 1993 and the Retirement Savings Accounts Act 1997 regulate the prudential and operating standards for superannuation providers. Concessional tax treatment is generally available only if providers comply with these standards.
 (2) Other legislative schemes relevant to superannuation include the following:
 (a) the Superannuation Guarantee (Administration) Act 1992, which requires that employers provide a minimum level of superannuation contributions for each of their eligible employees;
 (b) the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003, which provides for Government co‑contributions to low income earners' superannuation;
 (c) the Small Superannuation Accounts Act 1995, which provides a facility to accept payments of superannuation guarantee shortfalls;
 (d) the Superannuation (Unclaimed Money and Lost Members) Act 1999, which provides for the payment of unclaimed superannuation money, and the maintenance of a register of lost members.

Division 285—General concepts relating to superannuation

285‑5  Transfers of property
 (1) Any of the following payments covered by this Part can be or include a transfer of property:
 (a) a contribution;
 (b) a *superannuation lump sum.
 (2) The amount of the payment is or includes the *market value of the property.
 (3) The *market value is reduced by the value of any consideration given for the transfer of the property.

Division 290—Contributions to superannuation funds

Table of Subdivisions
 Guide to Division 290
290‑A General rules
290‑B Deduction of employer contributions and other employment‑connected contributions
290‑C Deducting personal contributions
290‑D Tax offsets for spouse contributions

Guide to Division 290

290‑1  What this Division is about
      This Division sets out the rules for deductions and tax offsets for superannuation contributions.

Subdivision 290‑A—General rules

Table of sections
290‑5 Non‑application to roll‑over superannuation benefits etc.
290‑10 No deductions other than under this Division

290‑5  Non‑application to roll‑over superannuation benefits etc.
  This Division does not apply to a contribution that is any of the following:
 (a) a *roll‑over superannuation benefit;
 (b) a *superannuation lump sum that is paid from a *foreign superannuation fund;
 (c) an amount transferred to a *complying superannuation fund or an *RSA from a scheme for the payment of benefits in the nature of superannuation upon retirement or death that:
 (i) is not, and never has been, an *Australian superannuation fund or a *foreign superannuation fund; and
 (ii) was not established in Australia; and
 (iii) is