INCOME TAX ASSESSMENT ACT 1997 - SECT 306.12 Involuntary roll - over superannuation benefit

INCOME TAX ASSESSMENT ACT 1997 - SECT 306.12

    A * roll - over superannuation benefit is an involuntary roll - over superannuation benefit if it is:

  (a)   a payment transferring a * superannuation interest of:

  (i)   a member of a * superannuation fund; or

  (ii)   a depositor with an * approved deposit fund; or

  (iii)   a holder of an * RSA;

    to a * successor fund (other than a * self managed superannuation fund) without the consent of the member, depositor or holder; or

  (b)   a payment transferring an * accrued default amount of a member (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) of a * complying superannuation fund to another complying superannuation fund:

  (i)   as a result of an election under paragraph   29SAA(1)(b) of that Act; or

  (ii)   under section   388 of that Act;

    if:

  (iii)   that member becomes a member (within the meaning of that Act) of the other fund immediately after the transfer; and

  (iv)   the transfer happens during the period beginning on 1   July 2015 and ending on 1   July 2017; or

  (c)   a payment of consideration for the issue to a person of a beneficial interest in an eligible rollover fund (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) in accordance with an application on behalf of that person under section   243 of that Act.