Social Security (Retention of Exemption for Asset-test Exempt Income Streams) Principles 2022
21Partially asset‑test exempt income stream resulting from transfer to successor fund
Start here
Get a plain-English read of 21
Turn the raw legal text into a practical explanation grounded in Social Security (Retention of Exemption for Asset-test Exempt Income Streams) Principles 2022.
21 Partially asset‑test exempt income stream resulting from transfer to successor fund
These Principles cover an income stream if: (a) it results from the transfer, on or after 20 September 2007, of another income stream (the original income stream) to a successor fund; and (b) at the time of transfer, the original income stream was: (i) covered by section 9A, 9B or 9BA of the Act or would have been covered by those sections if paragraph 9A(1)(aa), subparagraph 9B(1)(a)(i) or subparagraph 9BA(1)(a)(i) of the Act did not apply; and (ii) provided by a regulated superannuation fund; and (c) the original income stream: (i) was purchased on or after 20 September 2004 and before 20 September 2007; or (ii) was covered by the 2007 Principles during the period starting on 20 September 2007 and ending at the end of 28 November 2011; or (iii) until the commencement of these Principles, was covered by the 2011 Principles; or (iv) was covered by these Principles.