Income Tax Assessment (1997 Act) Regulations 2021
301‑225.01 Superannuation lump sum membe301‑225.01 Superannuation lump sum member benefits less than $200 are tax free
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301‑225.01 Superannuation lump sum member benefits less than $200 are tax free
(1) For the purposes of paragraph 301‑225(1)(d) of the Act, this section specifies requirements in relation to a superannuation member benefit.
Note: The effect of section 301‑225 of the Act is that a superannuation member benefit is not assessable income and is not exempt income in certain circumstances (which include satisfying the requirements in subsection (2) of this section).
(2) A requirement is that the member’s benefit must be released under: (a) item 104 or 111 of Part 1 of Schedule 1 to the SIS Regulations; or (b) item 211 of Part 2 of Schedule 1 to the SIS Regulations; or (c) item 111 of Schedule 2 to the RSA Regulations.