Document ID: chunk:federal_register_of_legislation:F2024C01248:reg:19:p14
Version: federal_register_of_legislation:F2024C01248
Segment Type: reg
Provision Reference: reg 19 (pt 14/14)
Character Range: 89605–91633

of the Public Service of a State or a statutory office holder of equivalent seniority, including a statutory office holder who is the head of an instrumentality or agency of a State;
 (h) a judge, justice or magistrate of the court of a State.

Division 294—Transfer balance cap

Subdivision 294‑B—Transfer balance account

294‑25.01  Credit in transfer balance account—payment of consideration for interest supporting deferred superannuation income stream
 (1) For the purposes of item 5 of the table in subsection 294‑25(1) of the Act, a transfer balance credit arises under this section in your transfer balance account if:
 (a) you are the retirement phase recipient of a superannuation income stream; and
 (b) the superannuation income stream is a deferred superannuation income stream; and
 (c) after you start to be the retirement phase recipient of the superannuation income stream, you pay an amount of consideration for the superannuation interest that supports the superannuation income stream.
 (2) The amount of the credit is the amount of the consideration.
 (3) The credit arises at the time you pay the consideration.

294‑25.02  Credit in transfer balance account—commutation of certain capped defined benefit income streams
 (1) For the purposes of item 5 of the table in subsection 294‑25(1) of the Act, a transfer balance credit arises under this section in your transfer balance account if:
 (a) you receive a superannuation lump sum because a capped defined benefit income stream (the commuted stream) covered by any of items 1 to 7 of the table in subsection 294‑130(1) of the Act is commuted, in full or in part, on or after 1 July 2017; and
 (b) the superannuation lump sum is transferred directly to the purchase of a superannuation income stream (the commenced stream) that is covered by an item of the following table and is in the retirement phase.

Covered superannuation income stream
Item                                  Topic                        A superannuation income stream is covered if: