Document ID: chunk:federal_register_of_legislation:C2017C00177:clause:1_7:p5
Version: federal_register_of_legislation:C2017C00177
Segment Type: clause
Provision Reference: sch 1 cl 7 (pt 5/8)
Character Range: 43615–46415

sum of the cap increments that have arisen under this Subdivision on and before that day; and
 (b) your transfer balance cap for the *financial year in which the day falls, worked out disregarding:
 (i) any cap increments that arise under this Subdivision; and
 (ii) any *transfer balance credits or *transfer balance debits that have arisen in your *transfer balance account in respect of superannuation income streams of which you are a child recipient.
Note: Paragraph (b) is the transfer balance cap you would have if you were not a child recipient of any income stream. Disregarding credits, debits and cap increments allows this cap to be indexed appropriately under section 294‑40 (which is about proportional indexation).

294‑190  Cap increment—child recipient just before 1 July 2017
 (1) A cap increment arises if, just before 1 July 2017, you are the *child recipient of a *superannuation income stream.
 (2) The amount of the cap increment is the *general transfer balance cap.
 (3) The cap increment arises on 1 July 2017.

294‑195  Cap increment—child recipient on or after 1 July 2017, deceased had no transfer balance account
 (1) A cap increment arises if:
 (a) on a day (the starting day) on or after 1 July 2017, you start to be the *child recipient of a *superannuation income stream; and
 (b) the deceased did not have a *transfer balance account just before death.
 (2) The amount of the cap increment is:
 (a) the *general transfer balance cap, unless paragraph (b) applies; or
 (b) if you are not the only person to receive a *superannuation death benefit because of the death of the person—the proportion of the general transfer balance cap that corresponds to your share of the deceased's *superannuation interests.
 (3) The cap increment arises on the starting day.

294‑200  Cap increment—child recipient on or after 1 July 2017, deceased had transfer balance account
 (1) A cap increment arises if:
 (a) on a day (the starting day) on or after 1 July 2017, you start to be the *child recipient of a *superannuation income stream; and
 (b) the deceased had a *transfer balance account just before death.

Income stream fully funded by deceased's retirement phase interests
 (2) If the *superannuation interest that supports the *superannuation income stream is wholly attributable to one or more superannuation interests of the deceased that were in the *retirement phase, the amount of the cap increment equals the amount of the *transfer balance credit that arises in your *transfer balance account in respect of the *superannuation income stream.

Income stream fully funded by deceased's accumulation phase interests
 (3) If the *superannuation interest that supports the *superannuation income stream is wholly attributable to one or more superannuation interests of