Document ID: chunk:federal_register_of_legislation:C2023A00075:clause:4_7
Version: federal_register_of_legislation:C2023A00075
Segment Type: clause
Provision Reference: sch 4 cl 7
Character Range: 88951–90126

7  After section 307‑142
Insert:

307‑143  Components of a superannuation benefit that is a repayment when an entitlement to a credit ceases for a release authority relating to an FHSS determination

Preliminary
 (1) This section explains how to work out the *tax free component, and the *taxable component, of your *superannuation benefit that:
 (a) is a repayment by the Commissioner under subsection 131‑80(1) in Schedule 1 to the Taxation Administration Act 1953 of an amount (the released amount) paid to the Commissioner in relation to you; or
 (b) is a payment by the Commissioner under subsection 131‑80(3) in Schedule 1 to the Taxation Administration Act 1953 of an equivalent amount to an amount (the released amount) paid to the Commissioner in relation to you.

Tax free component
 (2) The *tax free component of your *superannuation benefit is equal to the total amount that the released amount reduced the tax free components of your *superannuation interests.

Taxable component
 (3) The *taxable component of your *superannuation benefit is equal to the total amount that the released amount reduced the taxable components of your *superannuation interests.