section, but for the payment having been received by another foreign superannuation fund. (6) The amount of your is the previously exempt fund earnings amount mentioned in paragraph (5)(c) (disregarding the addition of previously exempt fund earnings under subsection (2) or (3) of this section). 30580 Lump sums paid into complying superannuation (1) This section applies if: (a) section 30570 applies to a lump sum that is *superannuation paid from a superannuation fund; and *foreign (b) you are taken to receive the lump sum under section 30715; and (c) all of the lump sum is paid into a superannuation *complying fund; and (d) immediately the lump sum is paid into the complying superannuation fund, you no longer have a *superannuation interest in the foreign superannuation fund. (2) You may choose for all or part of your fund earnings *applicable worked out section 30575 (but not exceeding the amount of the lump sum) to be included in the assessable income of the superannuation plan. *complying Note: Section 295200 provides for the amount specified in the choice to be included in the assessable income of the complying superannuation plan. (3) Your choice: (a) must be in writing; and (b) must comply with the requirements (if any) specified in the regulations.
section, but for the payment having been received by another foreign superannuation fund. (6) The amount of your previously exempt fund earnings is the amount mentioned in paragraph (5)(c) (disregarding the addition of previously exempt fund earnings under subsection (2) or (3) of this section). 30580 Lump sums paid into complying superannuation (1) This section applies if: (a) section 30570 applies to a *superannuation lump sum that is paid from a *foreign superannuation fund; and (b) you are taken to receive the lump sum under section 30715; and (c) all of the lump sum is paid into a *complying superannuation fund; and (d) immediately the lump sum is paid into the complying superannuation fund, you no longer have a *superannuation interest in the foreign superannuation fund. (2) You may choose for all or part of your *applicable fund earnings worked out section 30575 (but not exceeding the amount of the lump sum) to be included in the assessable income of the *complying superannuation plan. Note: Section 295200 provides for the amount specified in the choice to be included in the assessable income of the complying superannuation plan. (3) Your choice: (a) must be in writing; and (b) must comply with the requirements (if any) specified in the regulations.
Income_Tax_Assessment_Act_1997_Super_Extract-1.docx