Document ID: chunk:federal_register_of_legislation:F2024C01248:reg:5:p4
Version: federal_register_of_legislation:F2024C01248
Segment Type: reg
Provision Reference: reg 5 (pt 4/13)
Character Range: 100077–102831

not give rise to a transfer balance debit in your transfer balance account (disregarding this subsection).
 (2) The amount of the debit is:
 (a) the amount of the credit mentioned in paragraph (1)(a) of this section; less
 (b) the amount of any transfer balance debits (apart from debits arising under item 4 of the table in subsection 294‑80(1) of the Act) that have arisen in your transfer balance account in respect of the income stream before the time the debit arises.
 (3) The debit arises when the superannuation income stream ceases, as mentioned in paragraph (1)(c).

294‑80.03  Debit in transfer balance account—certain items of table in subsection 294‑80(1) of the Act do not apply to certain superannuation income streams
  For the purposes of subsection 294‑80(3) of the Act, items 5 and 6 of the table in subsection 294‑80(1) of the Act do not apply to deferred superannuation income streams mentioned in subsection 307‑205.02C(1) of this instrument.

Subdivision 294‑D—Modifications for certain defined benefit income streams

294‑130.01  Meaning of capped defined benefit income stream
 (1) For the purposes of subsection 294‑130(2) of the Act, a superannuation income stream is prescribed if subsection (2), (3), (4), (5), (6) or (7) of this section applies to the superannuation income stream.
Note: A superannuation income stream prescribed under this section is a capped defined benefit income stream (see subsection 294‑130(2) of the Act).
 (2) This subsection applies to a superannuation income stream if it is a pension for the purposes of the SIS Act that is provided under rules:
 (a) that are in existence on 29 June 2007; and
 (b) that would meet the standards of subregulation 1.06(2) of the SIS Regulations except for the circumstances in which those rules allow for either or both of the following:
 (i) the pension to be commuted;
 (ii) the variation or cessation of pension payments in respect of a child of the deceased primary or reversionary beneficiary.
 (3) This subsection applies to a superannuation income stream if:
 (a) it arises as a direct result of the payment of an involuntary roll‑over superannuation benefit to a successor fund; and
 (b) it is a pension for the purposes of the SIS Act that is paid from the successor fund; and
 (c) the rules under which a pension was provided by the fund that made the payment of the involuntary roll‑over superannuation benefit satisfied subsection (2) at the time of transfer; and
 (d) the rules of the successor fund under which the superannuation income stream is provided satisfy paragraph (2)(b).
 (4) This subsection applies to a superannuation income stream if:
 (a) it is covered by item 2 of the table in subsection 294‑130(1) of the Act; and
 (b) it starts to