SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.42 Meaning of splittable contribution

SUPERANNUATION INDUSTRY (SUPERVISION) REGULATIONS 1994 - REG 6.42

  (1)   Subject to subregulations (2) and (3), a splittable contribution is:

  (a)   a contribution to a regulated superannuation fund on or after 1   January 2006; or

  (b)   an allocated surplus contribution amount that is allocated on or after 1   January 2006.

  (2)   Each of the following, received for a member of a regulated superannuation fund, is not a 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;

  (d)   a directed termination payment or an amount that would form part of the contributions segment of the superannuation interest.

  (3)   A contribution by the Commonwealth, a State or a Territory to a public sector superannuation scheme in relation to a benefit that accrued in a financial year that commenced before 1   July 2005 is not a splittable contribution.