Document ID: chunk:federal_register_of_legislation:C2017C00177:clause:1_3:p3
Version: federal_register_of_legislation:C2017C00177
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 3/3)
Character Range: 19770–21669

time:
 (a) assume that an income stream will properly comply with any rules or standards under which it is, or is purported to be, provided; and
 (b) disregard subsection 307‑80(4).
 (2) The matters are:
 (a) whether you are the *retirement phase recipient of a *superannuation income stream; and
 (b) whether a *transfer balance credit arises in your *transfer balance account.

Subdivision 294‑C—Transfer balance debits

Guide to Subdivision 294‑C

294‑75  What this Subdivision is about

      A debit arises in your transfer balance account when superannuation income streams that were previously credited (because they receive the earnings tax exemption) are reduced (other than by draw‑downs or investment losses) or lose the earnings tax exemption.
      A debit also arises in your transfer balance account when you make a contribution relating to a structured settlement or personal injury, or where certain events occur that result in you having reduced superannuation.

Table of sections

Operative provisions
294‑80 Transfer balance debits
294‑85 Certain events that result in reduced superannuation
294‑90 Payment splits
294‑95 Payment splits—no double debiting

Operative provisions

294‑80  Transfer balance debits
 (1) The following table sets out when a debit arises in your *transfer balance account and the amount of the debit. The debit is called a transfer balance debit.

Debits in the transfer balance account
Item                                    If:                                                                                                                                                                                                      A debit of:                                                                                                                                                                                                              Arises: