Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:8:p15
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 8 (pt 15/41)
Character Range: 669484–672379

12.19  Actuaries to certify in relation to determinations
  A superannuation actuary who makes a determination under this Part must certify that the determination:
 (a) is consistent with this Part; and
 (b) except to the extent (if any) that this Part otherwise requires, is made in accordance with a method that The Institute of Actuaries of Australia would accept as a proper actuarial practice.

12.20  Substituted accounting periods
  The trustee of a superannuation fund for which the Commissioner of Taxation has approved a 12‑month period as a substituted accounting period for the purposes of section 18 of the Tax Act may:
 (a) treat a reference in this Part to 30 June 1988 as a reference to the last day of the substituted accounting period corresponding to the year of income that ended on 30 June 1988; and
 (b) treat a reference in this Part to 1 July 1988 as a reference to the day after that day.

Part 12A—Trans‑Tasman retirement savings portability

Division 1—General

12A.01  Purpose of Part 12A
  This Part sets out matters to implement the Arrangement between the Government of Australia and the Government of New Zealand on Trans‑Tasman Retirement Savings Portability, signed at Brisbane on 16 July 2009.
Note 1: The Arrangement does not cover all complying superannuation funds. A number of types of superannuation funds and schemes are excluded (for example, self managed superannuation funds and defined benefit interests in defined benefit funds): see regulation 12A.03.
Note 2: Amounts covered by the Arrangement are:
(a) payments received by complying superannuation funds from KiwiSaver schemes on or after the day the Arrangement comes into force for Australia; and
(b) superannuation benefits paid to KiwiSaver scheme providers by complying superannuation funds on or after the day the Arrangement comes into force for Australia; and
(c) amounts paid between participating Australian funds if the member's benefits include any New Zealand‑sourced amount; and
(d) superannuation benefits paid to an individual from an interest that includes any New Zealand‑sourced amount; and
(e) amounts paid by the Commissioner of Taxation to a KiwiSaver scheme provider under the Superannuation (Unclaimed Money and Lost Members) Act 1999.
 See regulation 12A.03.
Note 3: The matters in this Part are also relevant to Division 312 of Part 3‑30 of the Income Tax Assessment Act 1997, which provides for the taxation treatment of retirement savings to which the Arrangement relates.

12A.02  Definitions for Part 12A
  In this Part:
Arrangement means the Arrangement between the Government of Australia and the Government of New Zealand on Trans‑Tasman Retirement Savings Portability, signed at Brisbane on 16 July 2009.
Australian‑sourced amount means:
 (a) an amount that:
 (i) was originally accrued in a complying superannuation fund; and
 (ii) is subsequently received by a