Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p25
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 25/33)
Character Range: 4739310–4742364

non‑complying plans (including foreign superannuation funds).

Subdivision 305‑A—Superannuation benefits from Australian non‑complying superannuation funds

Table of sections
305‑5 Tax treatment of superannuation benefits from certain Australian non‑complying superannuation funds

305‑5  Tax treatment of superannuation benefits from certain Australian non‑complying superannuation funds
  A *superannuation benefit that you receive from a *non‑complying superannuation fund that is an *Australian superannuation fund (for the income year in which the benefit is paid) is *exempt income if:
 (a) the fund:
 (i) has never been a *complying superannuation fund; or
 (ii) last stopped being a complying superannuation fund for the income year in which 1 July 1995 occurred or a later income year; and
 (b) the fund:
 (i) has never been a *foreign superannuation fund; or
 (ii) last stopped being a foreign superannuation fund for the income year in which 1 July 1995 occurred or a later income year.

Subdivision 305‑B—Superannuation benefits from foreign superannuation funds

Table of sections

Application of Subdivision
305‑55 Restriction to lump sums received from certain foreign superannuation funds

Lump sums received within 6 months after Australian residency or termination of foreign employment etc.
305‑60 Lump sums tax free—foreign resident period
305‑65 Lump sums tax free—Australian resident period

Lump sums to which sections 305‑60 and 305‑65 do not apply
305‑70 Lump sums received more than 6 months after Australian residency or termination of foreign employment etc.
305‑75 Lump sums—applicable fund earnings
305‑80 Lump sums paid into complying superannuation plans—choice

Application of Subdivision

305‑55  Restriction to lump sums received from certain foreign superannuation funds
 (1) This Subdivision applies if:
 (a) you receive a *superannuation lump sum from a *foreign superannuation fund; and
 (b) the fund is an entity mentioned in item 4 of the table in subsection 295‑490(1) (which deals with deductions for superannuation entities).
 (2) This Subdivision also applies if you receive a payment, other than a pension payment, from a scheme for the payment of benefits in the nature of superannuation upon retirement or death that:
 (a) is not, and never has been, an *Australian superannuation fund or a *foreign superannuation fund; and
 (b) was not established in Australia; and
 (c) is not centrally managed or controlled in Australia.
 (3) This Subdivision applies to a payment mentioned in subsection (2) from a scheme mentioned in that subsection in the same way as it applies to a *superannuation lump sum from a *foreign superannuation fund.

Lump sums received within 6 months after Australian residency or termination of foreign employment etc.

305‑60  Lump sums tax free—foreign resident period
  A *superannuation lump sum you receive from a *foreign superannuation fund is not assessable income and is not *exempt income if:
 (a) you receive it within 6 months after you become an Australian resident; and