7Guidelines for asset‑test exempt income stream resulting from commutation or rollover because of regulation 6.21 of Superannuation Industry (Supervision) Regulations 1994

7 Guidelines for asset‑test exempt income stream resulting from commutation or rollover because of regulation 6.21 of Superannuation Industry (Supervision) Regulations 1994

The Commission may determine that an income stream is an asset‑test exempt income stream for the purposes of the Act if: (a) it would have been covered by section 5JA(1) or 5JB(1) of the Act, if: (i) paragraph 5JA(1)(aa); or (ii) subparagraph 5JB(1)(a)(i); of the Act did not apply; and (b) it is purchased by the primary beneficiary on or after 1 July 2007; and (c) it results from another asset‑test exempt income stream (the original income stream) being commuted or rolled over to comply with subregulation 6.21(2A) of the Superannuation Industry (Supervision) Regulations 1994; and (d) the original income stream was covered by section 5JA or 5JB of the Act or would have been covered by those sections if: (i) paragraph 5JA(1)(aa); or (ii) subparagraph 5JB(1)(a)(i); of the Act did not apply; and (e) the original income stream: (i) was purchased before 20 September 2004; or (ii) was covered by the 2005 Principles during the period starting on 20 September 2004 and ending at the end of 19 September 2007; or (iii) was covered by the 2007 Determination during the period starting on 20 September 2007 and ending at the end of 24 November 2011; or (iv) was covered by the 2011 Determination during the period starting on 25 November 2011 and ending at the end of the day immediately prior to the commencement of this Determination; or (v) is covered by this Determination.