Commonwealth Consolidated Acts Commonwealth Consolidated ActsA * superannuation benefit that you receive from a * non-complying superannuation fund that is an * Australian superannuation fund (for the income year in which the benefit is paid) is * exempt income if:
(a) the fund:
(i) has never been a * complying superannuation fund; or
(ii) last stopped being a complying superannuation fund for the income year in which 1 July 1995 occurred or a later income year; and
(b) the fund:
(i) has never been a * foreign superannuation fund; or
(ii) last stopped being a foreign superannuation fund for the income year in which 1 July 1995 occurred or a later income year.
Table of sections
Application of Subdivision
305-55 Restriction to lump sums received from certain foreign superannuation funds
Lump sums received within 6 months after Australian residency or termination of foreign employment etc.
305-60 Lump sums tax free--foreign resident period
305-65 Lump sums tax free--Australian resident period
Lump sums to which sections 305-60 and 305- 65 do not apply
305-70 Lump sums received more than 6 months after Australian residency or termination of foreign employment etc.
305-75 Lump sums-- applicable fund earnings
305-80 Lump sums paid into complying superannuation plans--choice