SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.41 Meaning of taxed splittable contribution , untaxed splittable contribution and untaxed splittable employer contribution

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.41

  (1)   Subject to subregulation   (2), a taxed splittable contribution is:

  (a)   a contribution that will be included in the assessable income of an entity as:

  (i)   a taxable contribution for section   274 of the Tax Act; or

  (ii)   a contribution under Subdivision   295 - C of the 1997 Tax Act; or

  (c)   an allocated surplus contribution amount.

  (2)   Each of the following is not a taxed splittable contribution :

  (a)   a roll - over superannuation benefit within the meaning of Division   306 of the 1997 Tax Act;

  (b)   an amount allotted under this Division;

  (c)   a superannuation lump sum that is paid from a foreign superannuation fund.

  (3)   Subject to subregulation   (4), an untaxed splittable contribution :

  (a)   is a contribution made by a fund member or by another person to a regulated superannuation fund; but

  (b)   does not include a contribution of that kind that:

  (i)   is made after 5   April 2007; and

  (ii)   will not be included in the assessable income of an entity as:

  (A)   a taxable contribution for section   274 of the Tax Act; or

  (B)   a contribution under Subdivision   295 - C of the 1997 Tax Act.

  (4)   Each of the following is not an untaxed splittable contribution :

  (a)   a payment made to a superannuation fund by an employer, or by another person under an agreement to which the employer is a party, for the purpose of providing superannuation benefits for, or for dependants of, an employee of the employer;

  (b)   a roll - over superannuation benefit within the meaning of Division   306 of the 1997 Tax Act;

  (c)   an amount allotted under this Division;

  (d)   superannuation lump sum that is paid from a foreign superannuation fund.

  (5)   Subject to subregulation   (6), an untaxed splittable employer contribution:

  (a)   is a contribution made by the Commonwealth, a State or a Territory to a public sector superannuation scheme; but

  (b)   does not include a contribution of that kind that will be included in the assessable income of an entity as:

  (i)   a taxable contribution for section   274 of the Tax Act; or

  (ii)   a contribution under Subdivision   295 - C of the 1997 Tax Act.

  (6)   Each of the following is not an untaxed splittable employer contribution:

  (a)   a roll - over superannuation benefit within the meaning of Division   306 of the 1997 Tax Act;

  (b)   an amount allotted under this Division;

  (c)   a superannuation lump sum that is paid from a foreign superannuation fund.