Commonwealth of Australia Consolidated Acts Commonwealth of Australia Consolidated Acts(1) This section applies to a * superannuation benefit that you receive, paid in relation to a release authority given in relation to you in accordance with section 292-410.
(2) The * superannuation benefit is not assessable income and is not * exempt income to the extent that it does not exceed the amount mentioned in subsection (3).
(3) The amount is the amount of * excess contributions tax stated in the release authority, reduced (but not below zero) by the amount of any * superannuation benefit that was not assessable income and not * exempt income under a previous operation of subsection (2) in relation to the release authority.
(4) The * superannuation benefit is assessable income to the extent (if any) that it exceeds the amount mentioned in subsection (3).
Table of Subdivisions
Guide to Division 305
305-A Superannuation benefits from Australian non-complying superannuation funds
305-B Superannuation benefits from foreign superannuation funds
Guide to Division 305