995‑1.01 Definitions995‑1.01 Definitions

995‑1.01 Definitions

Note: A number of expressions used in this instrument are defined in the Act, including the following:

(a) superannuation benefit;
(b) superannuation income stream benefit.

In this instrument:

2013 allowances determination has the meaning given by subsection 51‑5.01(3).

accruing member:

(a) for the purposes of Schedule 1A—has the meaning given by clause 1.1 of that Schedule; and
(b) for the purposes of Subdivision 293‑D and Schedule 1AA—has the meaning given by subsection 293‑115.05(2).

Act means the Income Tax Assessment Act 1997.

activities of daily living has the meaning given by subsection 295‑465.01(5).

approved stock exchange: see section 995‑1.02.

assessable contribution means an amount included in the assessable income of an entity by Subdivision 295‑C of the Act, disregarding item 5.3 of the table in section 50‑25 of the Act (income tax exemption for constitutionally protected funds) and Subdivision 295‑D of the Act (about excluded contributions).

benefit category:

(a) for the purposes of Subdivision 291‑C and Schedule 1A—has the meaning given by clause 1.2 of that Schedule; and
(b) for the purposes of Schedule 1AA—has the meaning given by clause 2 of that Schedule.

bundled has the meaning given by subsection 295‑465.01(5).

cognitive loss has the meaning given by subsection 295‑465.01(5).

conditions determination has the meaning given by subsection 51‑5.01(3).

constitutionally protected fund: see section 995‑1.03.

death (life) cover has the meaning given by subsection 295‑465.01(5).

defined benefit fund:

(a) for the purposes of Schedule 1A—has the meaning given by clause 1.3 of that Schedule; and
(b) for the purposes of Schedule 1AA—has the meaning given by clause 2A of that Schedule.

defined benefit member:

(a) means a member of a superannuation fund whose entitlements to superannuation benefits (other than benefits payable on death or disability) are defined by reference to one or more of the following matters:
(i) the member’s salary, or allowance in the nature of salary, at a particular date or averaged over a period;
(ii) another individual’s salary, or allowance in the nature of salary, at a particular date or averaged over a period;
(iii) a specified amount;
(iv) specified conversion factors;
other than a member of a superannuation fund whose entitlements to superannuation are defined solely by reference to one or more of the following matters:
(v) the member’s disability superannuation benefits;
(vi) the member’s superannuation death benefits;
(vii) payments of amounts mentioned in paragraph 307‑10(a) of the Act (which relates to temporary disability payments); and
(b) in clause 3.6 of Schedule 1A—has a meaning affected by subclause (4) of that clause; and
(c) in clause 15 of Schedule 1AA—has a meaning affected by subclause (4) of that clause.