INCOME TAX ASSESSMENT ACT 1997 - SECT 294.180 Transfer balance account ends
INCOME TAX ASSESSMENT ACT 1997 - SECT 294.180
Transfer balance account ends(1) Despite sections 294 - 15 and 294 - 45, your * transfer balance account ceases at a time if:
(a) just before that time, you were a * child recipient of one or more * superannuation income streams; and
(b) just after that time, you are no longer a child recipient of any superannuation income stream; and
(c) no * transfer balance credits arose in the transfer balance account in respect of a superannuation income stream of which you were a * retirement phase recipient, but not a child recipient.
(2) If you again start to have a * transfer balance account at a
later time, this Division applies in relation to that later
transfer balance account as if it were the only transfer balance account you
have had.