INCOME TAX ASSESSMENT ACT 1997 - SECT 307.210 Tax free component of superannuation interest

INCOME TAX ASSESSMENT ACT 1997 - SECT 307.210

  (1)   The tax free component of a * superannuation interest is so much of the * value of the interest as consists of:

  (a)   the * contributions segment of the interest; and

  (b)   the * crystallised segment of the interest.

Tax free component reduces if a benefit is paid

  (2)   If a * superannuation benefit is paid from the * superannuation interest:

  (a)   the * crystallised segment of the interest is reduced (but not below zero) by an amount equal to the * tax free component of the benefit; and

  (b)   if any of that amount remains, the * contributions segment of the interest is reduced (but not below zero) by that remaining amount.

Note:   This has the effect of reducing the interest's tax free component by the amount of the benefit's tax free component.